Global Undervalued Small Caps With Insider Buying

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$994.0m

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

Shore Bancshares

Market Cap: US$558.4m

Operates as a bank holding company for the Shore United Bank, N.A.

Farmland Partners

Market Cap: US$487.0m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.

Peoples Bancorp

Market Cap: US$1.1b

Operates as the financial holding company for Peoples Bank that provides commercial and consumer banking products and services.

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$636.9m

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

S&T Bancorp

Market Cap: US$1.5b

Operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services to consumer, commercial, and small business in Pennsylvania and Ohio.

Angel Oak Mortgage REIT

Market Cap: US$228.9m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

First United

Market Cap: US$237.2m

Operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States.

Citizens & Northern

Market Cap: US$312.3m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

Thryv Holdings

Market Cap: US$592.7m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

Hemisphere Energy

Market Cap: CA$187.5m

Acquires, explores, develops, and produces petroleum and natural gas properties in Canada.

Industrial Logistics Properties Trust

Market Cap: US$394.7m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

PCB Bancorp

Market Cap: US$315.0m

Operates as the bank holding company for PCB Bank that provides various banking products and services to small and middle market businesses and individuals.

Tandem Diabetes Care

Market Cap: US$818.3m

Designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally.

GEN Restaurant Group

Market Cap: US$107.9m

Operates restaurants in the United States.

Avia Avian

Market Cap: Rp25.6t

Manufactures and distributes paints and building materials in Indonesia.

Dicker Data

Market Cap: AU$1.6b

Engages in the wholesale distribution of computer hardware, software, and related products for corporate and commercial markets in Australia and New Zealand.

Foschini Group

Market Cap: R35.2b

Operates retail stores in South Africa and internationally.

Daiwa House Logistics Trust

Market Cap: S$395.4m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

BWP Trust

Market Cap: AU$2.5b

Established and listed on the Australian Securities Exchange (‘ASX’) in 1998, BWP Trust (‘BWP’ or ‘the Trust’) is a real estate investment trust investing in and managing commercial properties throughout Australia.

East West Banking

Market Cap: ₱26.3b

Operates as a commercial bank that provides a range of financial products and services to individual and corporate clients in the Philippines and internationally.

Bytes Technology Group

Market Cap: UK£962.9m

Offers software, security, AI, and cloud services in the United Kingdom, Europe, and internationally.

Bank Danamon Indonesia

Market Cap: Rp24.7t

Provides banking services for retail, small and medium enterprises (SMEs), and corporate customers in Indonesia.

CVS Group

Market Cap: UK£903.9m

Engages in veterinary, pet crematoria, online pharmacy, and retail businesses.

A.G. BARR

Market Cap: UK£762.0m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

Baazar Style Retail

Market Cap: ₹29.6b

Engages in the business of retailing various apparel and non-apparel consumer products in India.

Civista Bancshares

Market Cap: US$397.3m

Operates as the financial holding company for Civista Bank that provides community banking services in the United States.

AutoCanada

Market Cap: CA$737.3m

Through its subsidiaries, operates franchised automobile dealerships and related business.

Monro

Market Cap: US$522.5m

Engages in the operation of retail tire and automotive repair stores in the United States.

OneSpan

Market Cap: US$546.5m

Designs, develops, and markets digital solutions for security, authentication, identity, electronic signature, and digital workflow products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions.

Pebblebrook Hotel Trust

Market Cap: US$1.3b

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States.

Envela

Market Cap: US$196.3m

Provides recycling and recommerce services in the United States.

Magnera

Market Cap: US$456.4m

Manufactures and sells non-woven and related products worldwide.

Alerus Financial

Market Cap: US$564.6m

Operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.

Full House Resorts

Market Cap: US$133.3m

Owns, leases, operates, develops, manages, and invests in casinos, and related hospitality and entertainment facilities in the United States.