Duke Realty Corp. (DRE) Hits New 1-Year High at $27.74
Duke Realty Corp. (NYSE:DRE)’s share price hit a new 52-week high on Monday . The company traded as high as $27.74 and last traded at $27.54, with a volume of 1,101,915 shares changing hands. The stock had previously closed at $27.54.
A number of brokerages have recently weighed in on DRE. Zacks Investment Research upgraded Duke Realty Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Duke Realty Corp. in a report on Tuesday, May 3rd. Citigroup Inc. increased their price objective on Duke Realty Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Barclays PLC increased their price objective on Duke Realty Corp. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Duke Realty Corp. presently has a consensus rating of “Hold” and an average price target of $23.57.
The company has a market cap of $9.54 billion and a P/E ratio of 16.14. The company’s 50-day moving average is $26.00 and its 200 day moving average is $22.62.
Duke Realty Corp. (NYSE:DRE) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The company had revenue of $224.90 million for the quarter, compared to the consensus estimate of $199.59 million. During the same quarter last year, the business posted $0.31 EPS. Duke Realty Corp.’s quarterly revenue was down 15.9% on a year-over-year basis. Analysts forecast that Duke Realty Corp. will post $1.19 EPS for the current year.
In other Duke Realty Corp. news, Chairman Dennis D. Oklak sold 75,000 shares of the firm’s 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 owns 305,444 shares in the company, valued at $7,455,888.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles R. Eitel sold 3,575 shares of the firm’s 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 institutional investors recently modified their holdings of DRE. Vanguard Group Inc. boosted its position in shares of 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 period. Wells Fargo & Company MN boosted 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 valued at $17,709,000 after buying an additional 160,012 shares during the period. Employees Retirement System of Texas boosted its position in Duke Realty Corp. by 29.0% in the fourth quarter. Employees Retirement System of Texas now owns 645,620 shares of the real estate investment trust’s stock valued at $13,571,000 after buying an additional 145,000 shares during the period. Morgan Stanley boosted its position in Duke Realty Corp. by 0.8% in the fourth quarter. Morgan Stanley now owns 9,778,630 shares of the real estate investment trust’s stock valued at $205,547,000 after buying an additional 79,693 shares during the period. Finally, Advantus Capital Management Inc boosted its position in Duke Realty Corp. by 5.4% in the fourth quarter. Advantus Capital Management Inc now owns 1,335,861 shares of the real estate investment trust’s stock valued at $28,080,000 after buying an additional 68,606 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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