Duke Realty Corp (DRE) Reaches New 12-Month High at $27.14
Duke Realty Corp (NYSE:DRE) hit a new 52-week high on Monday . The stock traded as high as $27.14 and last traded at $27.14, with a volume of 1,311,883 shares changing hands. The stock had previously closed at $26.84.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Duke Realty Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Duke Realty Corp in a research report on Tuesday, May 3rd. Finally, Citigroup Inc. raised their price target on shares of Duke Realty Corp from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.00.
The firm has a market cap of $9.42 billion and a price-to-earnings ratio of 15.93. The firm has a 50-day moving average of $25.18 and a 200 day moving average of $22.29.
Duke Realty Corp (NYSE:DRE) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The business earned $224.90 million during the quarter, compared to analysts’ expectations of $199.59 million. Duke Realty Corp’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, equities analysts forecast that Duke Realty Corp will post $1.19 earnings per share for the current fiscal year.
In related news, Director Charles R. Eitel sold 3,575 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $25.94, for a total transaction of $92,735.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven R. Kennedy sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $25.41, for a total transaction of $677,151.09. Following the transaction, the executive vice president now owns 42,691 shares of the company’s stock, valued at approximately $1,084,778.31. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Alpine Woods Capital Investors LLC raised its position in Duke Realty Corp by 229.4% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 56,000 shares of the real estate investment trust’s stock valued at $1,177,000 after buying an additional 39,000 shares during the period. Profund Advisors LLC raised its position in Duke Realty Corp by 22.3% in the fourth quarter. Profund Advisors LLC now owns 56,883 shares of the real estate investment trust’s stock valued at $1,196,000 after buying an additional 10,365 shares during the period. Quantitative Investment Management LLC purchased a new position in Duke Realty Corp during the fourth quarter valued at approximately $1,301,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Duke Realty Corp by 4.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 89,383 shares of the real estate investment trust’s stock valued at $1,879,000 after buying an additional 4,096 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Duke Realty Corp by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 100,102 shares of the real estate investment trust’s stock valued at $2,104,000 after buying an additional 431 shares during the period.
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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