|New Threads Only:|
|New Threads & Replies:|
Forum List » Value Ideas and Strategies|
Share and discuss value investing ideas and investing strategies.
Insiders Are Buying Tricon Capital Group
Posted by: Markus Aarnio (IP Logged)
Date: September 14, 2013 10:55AM
One real estate asset manager has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
The stock is purchased by three or more insiders within one month.
The stock is sold by no insiders in the month of intensive purchasing.
At least two purchasers increase their holdings by more than 10%.
Tricon Capital Group (TSX:TCN) is a North American real estate asset manager and principal investor with a primary focus on the residential sector.
Insider Buying During the Last 30 Days
Here is a table of Tricon's insider-trading activity by calendar month.
There have been 313,294 shares purchased and there have been zero shares sold by insiders since April 2013.
Tricon reported the second-quarter financial results on August 14 with the following highlights:
While the overall Canadian housing market remains relatively stable, notwithstanding a more onerous investment environment in Toronto, Tricon believes that there are better risk adjusted investment opportunities in the United States. As such, Tricon is well positioned to capitalize on the U.S. housing recovery through its exposure to residential land / new housing and its investments in U.S. single-family rental.
Tricon's competitors include Killam Properties (TSX:KMP) and Mainstreet Equity Corp. (TSX:MEQ). Killam Properties has seen more insider buying than insider selling during the past six months. Killam Properties has a dividend yield of 5.5%. Mainstreet Equity has seen one insider sell transaction during the past six months.
There have been seven different insiders buying Tricon and there have not been any insiders selling Tricon during the last 30 days. Five of these seven insiders increased their holdings by more than 10%.
There are four analyst buy ratings, zero neutral ratings and zero sell ratings with an average target price of $8.10. Tricon has a dividend yield of 3.8%. I believe the stock could be a good pick at the current level based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Stocks Discussed: TSX:TCN, TSX:KMP, TSX:MEQ,