In this article, I will feature one real estate investment trust that 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%.
Chambers Street Properties (NYSE:CSG) is a net lease industrial and office real estate investment trust that focuses on acquiring, owning, and managing income-producing industrial (primarily warehouse/distribution) and office properties leased to creditworthy tenants on a net leased basis. As of June 30, 2013, Chambers Street owned or had a majority interest in 129 properties located across 22 U.S. states, Germany, and the United Kingdom encompassing approximately 34.2 million rentable square feet.
Insider buying during the last 30 days
- Charles Black purchased 13,675 shares on August 29, and currently holds 32,675 shares or less than 0.1% of the company. Charles Black serves as a director of the company. Charles Black increased his holdings by 72.0% in August.
- James Orphanides purchased 21,500 shares on August 13-14, and currently holds 114,522 shares or less than 0.1% of the company. James Orphanides serves as a director of the company. James Orphanides increased his holdings by 23.1% in August.
- Philip Kianka purchased 10,000 shares on August 14-15, and currently holds 225,000 shares or less than 0.1% of the company. Philip Kianka is executive vice president and chief operating officer of Chambers Street Properties. Philip Kianka increased his holdings by 4.7% in August.
- Jack Cuneo purchased 8,000 shares on August 13-14, and currently holds 394,054 shares or 0.2% of the company. Jack Cuneo is founder, president and CEO and a trustee of Chambers Street Properties. Jack Cuneo increased his holdings by 2.1% in August.
- Martin Reid purchased 1,700 shares on August 13, and currently holds 91,237 shares or less than 0.1% of the company. Martin Reid is executive vice president, chief financial officer, treasurer, secretary and a trustee of Chambers Street Properties. Martin Reid increased his holdings by 1.9% in August.
Insider buying by calendar month
Here is a table of Chambers Street Properties' insider-trading activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 54,875 shares purchased and there have been zero shares sold by the insiders since May 2013.
Chambers Street Properties reported the second-quarter financial results on August 8, with the following highlights:
|Core funds from operations||$0.16 per share|
|Net loss||$3.6 million|
Chambers Street Properties' full year 2013 guidance for Core FFO is $0.57 to $0.62 per diluted share, representing an increase of at least 18.8% over its Core FFO for 2012 of $0.48 per share.
Chambers Street Properties' competitors include National Retail Properties (NYSE:NNN), Realty Income Corporation (NYSE:O), W. P. Carey (NYSE:WPC), Lexington Realty Trust (NYSE:LXP), STAG Industrial (NYSE:STAG), DCT Industrial Trust (NYSE:DCT), Eastgroup Properties (NYSE:EGP), Piedmont Office Realty Trust (NYSE:PDM), Duke Realty (NYSE:DRE), and Liberty Property Trust (LRY).
Chambers Street Properties' dividend yield is above the industry average.
National Retail Properties has seen six insider sell transactions this year. Realty Income Corporation has seen 16 insider sell transactions and two insider buy transactions this year. W. P. Carey has seen four insider sell transactions this year. Lexington Realty Trust has seen eight insider sell transactions this year. STAG Industrial has seen intensive insider buying in August. DCT Industrial Trust has seen six insider sell transactions this year. Eastgroup Properties has seen five insider sell transactions this year. Piedmont Office Realty Trust has seen one insider buy transaction this year. Duke Realty has seen four insider sell transactions and two insider buy transactions this year. Liberty Property Trust has seen 13 insider sell transactions this year.
There have been five different insiders buying Chambers Street Properties and there have not been any insiders selling Chambers Street Properties during the last 30 days. Two out of these five insiders increased their holdings by more than 10%. Chambers Street Properties has an insider ownership of 0.40%.
There are zero analyst buy ratings, two neutral ratings and zero sell ratings with an average target price of $10.00. Chambers Street Properties has a book value of $6.77 per share and the stock has a dividend yield of 6.42%. I believe the stock could be a good pick at the book value of $6.77 per share.