Artis REIT AX-UN-T has exposure to industrial, office and retail properties in North America. Since units peaked at $13.76 on April 20, CEO Samir Manji has bought 50,000 units at an average price of $12.08. Director Benjamin Rodney also bought 9,000 units at $11.94. As central banks tighten, investors may favour dividend paying investments. Seeing insiders buy at Artis, which sports a forward annual 5-per-cent yield, is an encouraging sign. Ultimately, the prospects for REIT’s generally may depend on how aggressive central banks become in raising rates.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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