Canadian Undervalued Small Caps With Insider Buying

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$899.4m

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.

Sagicor Financial

Market Cap: CA$1.1b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

GDI Integrated Facility Services

Market Cap: CA$681.7m

Operates in the outsourced facility services industry in Canada and the United States.

Flagship Communities Real Estate Investment Trust

Market Cap: CA$643.5m

An unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust dated August 12, 2020 (as subsequently amended and restated, the “Declaration of Trust”) under the laws of the Province of Ontario.

Pro Real Estate Investment Trust

Market Cap: CA$407.2m

PROREIT (TSX:PRV.UN) is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

Firm Capital Property Trust

Market Cap: CA$220.8m

Firm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income.

BTB Real Estate Investment Trust

Market Cap: CA$342.5m

BTB is a real estate investment trust listed on the Toronto Stock Exchange.

Plaza Retail REIT

Market Cap: CA$448.6m

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada.

ADF Group

Market Cap: CA$199.9m

Engages in the design and engineering of connections including industrial coatings in Canada and the United States.

BSR Real Estate Investment Trust

Market Cap: CA$623.6m

An internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

Aecon Group

Market Cap: CA$1.9b

Aecon Group Inc., together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally.

Computer Modelling Group

Market Cap: CA$433.5m

A software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services.

Foran Mining

Market Cap: CA$2.2b

Engages in the acquisition, exploration, and development of mineral properties.

NorthWest Healthcare Properties Real Estate Investment Trust

Market Cap: CA$1.3b

Northwest Healthcare Properties Real Estate Investment Trust ("Northwest", or the "REIT"), is a Canadian open-end trust established on January 1, 2010 and governed pursuant to a third amended and restated Declaration of Trust dated September 15, 2020, as amended by amendments dated as of March 30, 2023, September 21, 2023, June 18, 2024 and May 14, 2025, under the laws of the Province of Ontario ("Declaration of Trust").

Mullen Group

Market Cap: CA$1.2b

Provides a range of trucking and logistics services in Canada and the United States.

Obsidian Energy

Market Cap: CA$538.3m

Engages in the exploration, development, and production of oil and natural gas properties in Western Canada.