SmartCentres REIT SRU-UN-T (Friday’s close: $25.71) chairman and chief executive officer Mitchell Goldhar has been buying the dip. As markets were tumbling in the last week of September, he spent more than $1.1-million picking up 44,100 units. The purchases were between the prices of $25.00 and $25.58. In addition, on Sept. 30, executive vice-president of portfolio management and investments Rudy Gobin bought 5,000 units at $25.63. The insiders may be betting the REIT can weather Canadian economic headwinds with a portfolio that includes 114 shopping centres anchored by low-cost retailer Walmart as a tenant.
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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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