Those following along with True North Commercial Real Estate Investment Trust (TSE:TNT.UN) will no doubt be intrigued by the recent purchase of shares by Daniel Drimmer, President of the company, who spent a stonking CA$3.5m on stock at an average price of CA$6.92. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 11%.
See our latest analysis for True North Commercial Real Estate Investment Trust
True North Commercial Real Estate Investment Trust Insider Transactions Over The Last Year
In fact, the recent purchase by Daniel Drimmer was the biggest purchase of True North Commercial Real Estate Investment Trust shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of CA$7.08. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company’s future. While we always like to see insider buying, it’s less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. Happily, the True North Commercial Real Estate Investment Trust insiders decided to buy shares at close to current prices.
While True North Commercial Real Estate Investment Trust insiders bought shares last year, they didn’t sell. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does True North Commercial Real Estate Investment Trust Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it’s a good sign if insiders own a significant number of shares in the company. True North Commercial Real Estate Investment Trust insiders own about CA$36m worth of shares. That equates to 5.9% of the company. We’ve certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The True North Commercial Real Estate Investment Trust Insider Transactions Indicate?
It’s certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in True North Commercial Real Estate Investment Trust shares, given these transactions (along with notable insider ownership of the company). If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
But note: True North Commercial Real Estate Investment Trust may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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