Duke Realty Corp. (DRE) Sets New 12-Month High at $27.14
Duke Realty Corp. (NYSE:DRE) reached a new 52-week high during trading on Monday . The stock traded as high as $27.14 and last traded at $27.14, with a volume of 1,311,883 shares traded. The stock had previously closed at $26.84.
Several research firms recently commented on DRE. Zacks Investment Research upgraded shares of Duke Realty Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Citigroup Inc. boosted their price objective on shares of Duke Realty Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Duke Realty Corp. in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.00.
The company’s 50-day moving average price is $24.95 and its 200-day moving average price is $22.18. The company has a market capitalization of $9.36 billion and a P/E ratio of 15.83.
Duke Realty Corp. (NYSE:DRE) last issued its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $224.90 million for the quarter, compared to analyst estimates of $199.59 million. During the same period last year, the business posted $0.31 earnings per share. Duke Realty Corp.’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, analysts forecast that Duke Realty Corp. will post $1.19 earnings per share for the current year.
In related news, Chairman Dennis D. Oklak sold 75,000 shares of Duke Realty Corp. stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $24.41, for a total transaction of $1,830,750.00. Following the transaction, the chairman now directly owns 305,444 shares of the company’s stock, valued at $7,455,888.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles R. Eitel sold 3,575 shares of Duke Realty Corp. stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $25.94, for a total value of $92,735.50. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Duke Realty Corp. by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 49,552,237 shares of the real estate investment trust’s stock worth $1,041,588,000 after buying an additional 1,145,813 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Duke Realty Corp. during the fourth quarter worth about $11,023,000. OppenheimerFunds Inc. raised its position in Duke Realty Corp. by 17.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,973,753 shares of the real estate investment trust’s stock worth $41,488,000 after buying an additional 289,723 shares during the last quarter. Sei Investments Co. raised its position in Duke Realty Corp. by 194.1% in the fourth quarter. Sei Investments Co. now owns 434,175 shares of the real estate investment trust’s stock worth $9,126,000 after buying an additional 286,545 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Duke Realty Corp. by 23.4% in the fourth quarter. Wells Fargo & Company MN now owns 842,495 shares of the real estate investment trust’s stock worth $17,709,000 after buying an additional 160,012 shares during the last quarter.
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, office, medical office real estate investments and service operations. Service operations consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contractor and construction management to third-party property owners and joint ventures.
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