Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

RE:RE:RE:RE:RE:RE:RE:RE:Insider Buying

[AlwaysLong683]

I checked CAR.UN's NCIB press release dated March 31, 2022.

Key Points:

- CAR.UN may purchase up to 17M of its units (representing approximately 10% of its public float) between March 24, 2022 and March 23, 2023.

- CAR.UN may purchase up to 91,823 units on the TSX during any trading day. During May 2022.

- According to SEDI, CAR.UN purchased the maximum 91,823 shares on each of three days (May 19 at 48.54 per unit, May 27 at 48.74 per unit, May 30 at 49.10 per unit), and (again, according to SEDI) was somehow able to purchase more than the daily allowable maximum (108,100) on May 26 at 48.45 per unit.

- CAR.UN intends to enter into an automatic purchase plan to be effective March 24, 2022. The automatic purchase plan will allow for purchases of units by CAR.UN during certain pre-determined blackout periods.

- Any Units purchased under the normal course issuer bid will be cancelled. 


Pretty standard stuff for an NCIB, but it gives unitholders an idea as to the flexibility and breadth of what CAR.UN is able to do if the share price continues to languish. In addition to the liquidity they currently have on hand for unit purchases, this could additionally include any excess cash they may come into during the course of their Porfolio Repositioning strategy. It appears as if CAR.UN is focusing on the quality, not quantity, of their property holdings during their Portfolio Repositioning efforts, which is a good thing in my view.

Bottom Line: I really like what I'm seeing with this REIT.