Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
At Investors Real Estate Trust (NYSE:IRET), a filing with the SEC revealed that on Friday, Director Jeffrey K. Woodbury purchased 1,280 shares of IRET, at a cost of $7.81 each, for a total investment of $10,000. Woodbury was up about 5.0% on the buy at the high point of today's trading session, with IRET trading as high as $8.20 at last check today. Investors Real Estate Trust is trading down about 0.4% on the day Tuesday. Before this latest buy, Woodbury made one other buy in the past year, purchasing $15,000 shares for a cost of $7.09 each.
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