Insider Buying Wednesday’s Insider Report: CEO is a buyer of this high-flying REIT with a unanimous buy recommendation
BSR Real Estate Investment Trust On Dec. 20 and 21, chief executive officer and executive vice-chair of the board of trustees John Bailey invested over US$101,000 in units of BSR. He acquired a total of 6,000 trust units at an average cost per unit of roughly US$16.87 for an account in which he has control or direction over (J&P Unit Holding LLC), increasing this particular account’s position to 1,010,250 units.
On Dec. 31, the unit price of this REIT closed at a record high of $22.98. Analysts expect the positive price momentum to continue. The REIT has a unanimous buy recommendation from 12 analysts with a 12-month target price of $25.35, implying the unit price may rally 11 per cent over the next year.
The REIT pays its unitholders a monthly distribution of 4.17 US cents per unit, or 50 US cents per unit yearly, equating to a current annualized yield of 2.8 per cent.