The stock market is having a strong start to the year. Despite a recent cooling-off period, the S&P 500 is up more than 5%. Despite that looming catalyst, shares of many top real estate investment trusts (REITs) have underperformed this year. Realty Income (NYSE: O) and Prologis (NYSE: PLD) are two of the more notable laggards.
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Although U.S. stocks closed lower on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision.
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Shares of Olectra Greentech sank 12% on April 26 after the company posted a weak set of earnings for the March quarter. At 12.24 pm, Olectra Greentech traded nearly 4% lower at Rs 1,738. The stock has gained 64% in the past six months but has been seeing negative weekly returns for the past two weeks. Olectra Greentech’s consolidated net profit declined to Rs 13.71 crore.
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