Insiders on Artis REIT (TSX:AX.UN) appear to be growing increasingly bullish on the long-term prospects of the real estate investment trust (REIT).
Insider Ron Joyce has continued to accumulate a significant holding in the REIT, with an ownership percentage that has officially breached the double-digit range. Mr. Joyce owns nearly 15 million trust units of the REIT, valued at over $200 million, and has continued to add to his position recently. This week, two accounts which Mr. Joyce has an ownership interest in purchased more than 350,000 trust units in two separate transactions, indicating Artis' rebound may only be just beginning.
Investors looking to glean insight into the direction of the stock price of a given company should remain cautious, as systematic risk and other macroeconomic factors remain real for entire sectors - the REIT sector as a whole has continued to perform well, however the potential for a slowdown given a rising interest rate environment and tightening monetary policy remain for investors considering adding a large stake in Artis (or any other REIT for that matter).
Invest wisely, my friends.
