Boston, MA 09/11/2014 (wallstreetpr) – Self-managed real estate investment trust company, Duke Realty Corp (NYSE:DRE) President for Healthcare has resorted to selling shares in the open market on September 9. He was the second insider to unload shares in September. The insider has clearly taken advantage of the prevailing stock price to unload part of his holding.
Divest Shares
Duke Realty Corp (NYSE:DRE) President for Healthcare, James Bremner, appeared to have decided to realize a profit from the shares he was holding by selling part of it. As a result, he has divested 20,000 shares at the rate of $18.4 and realized an amount of $368,000 from the sale, according to Form 4 filed on September 10 with the Securities and Exchange Commission.
The selling price of the President indicated that he has received a premium of 29.8% over the 52-week low price of $14.18. On the other hand, he has lost only 2.1% based on the yearly high price of $18.8. After the recent sale of shares, James Bremner continues to hold 158.830 shares. This is valued roughly $2.9 million based on the price of $18.25 a share.
Other Person
One more insider to sell shares in September was the Lead Independent Director, William Cavanaugh. However, the number was too small. He has unloaded just 595 shares at the rate of $18.44 a share. The Independent Director continues to hold 2,155 shares in Duke Realty Corp (NYSE:DRE), according to Nasdaq data.
One-Year Insider Activities
In the last three-month period, there were 13 transactions of insider trading activities. While six transactions dealt with the purchase of shares, seven related to selling of shares. The number shares purchased during the period were only 39.387 compared to the sale of 175,601 shares. This left a net selling activity of 136,214 shares during the last three-month period.
Similarly, in the last one-year period, there were 73 transactions, and 38 belonged to open market purchase. There were 35 transactions of selling activities. While 415,440 shares were acquired, 456,018 shares were divested during the last 52-week period. Thus, there was a net selling of 40,578 shares during the last one-year period.
The increased quantity of selling from the insiders at a price close to the yearly high might suggest that there would be less potential for upside rewards.
