North American Income Trust (LON:NAIT) Reaches New 1-Year High After Insider Buying Activity

North American Income Trust (LON:NAIT) shares hit a new 52-week high during trading on Tuesday following insider buying activity. The stock traded as high as GBX 303 ($3.93) and last traded at GBX 301 ($3.90), with a volume of 240611 shares trading hands. The stock had previously closed at GBX 300 ($3.89).

Specifically, insider Charles Park bought 10,000 shares of North American Income Trust stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of GBX 293 ($3.80) per share, for a total transaction of £29,300 ($37,997.67). In related news, insider Patrick Edwardson acquired 16,245 shares of the stock in a transaction dated Monday, July 15th. The stock was bought at an average cost of GBX 297 ($3.85) per share, with a total value of £48,247.65 ($62,569.90). Also, insider Charles Park acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average price of GBX 293 ($3.80) per share, with a total value of £29,300 ($37,997.67). Over the last 90 days, insiders have bought 27,101 shares of company stock valued at $8,002,149. Company insiders own 8.10% of the company’s stock.

North American Income Trust Price Performance

The company has a 50 day simple moving average of GBX 294.52 and a 200 day simple moving average of GBX 289.63. The company has a market capitalization of £413.42 million, a price-to-earnings ratio of 14,942.30 and a beta of 0.70. The company has a quick ratio of 7.40, a current ratio of 1.99 and a debt-to-equity ratio of 8.72.

North American Income Trust Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 4th will be given a dividend of GBX 2.70 ($0.04) per share. This represents a yield of 0.91%. The ex-dividend date of this dividend is Thursday, July 4th. North American Income Trust’s dividend payout ratio (DPR) is presently 55,000.00%.

About North American Income Trust

The North American Income Trust plc is an exchange traded fund launched and managed by Aberdeen Fund Managers Limited. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund invests in the stocks of large-cap companies, within the market capitalization range of S&P 500 Index.