why Duke Realty Corporation [DRE] is a Good Choice for Investors After New Price Target of $63.00

Duke Realty Corporation [NYSE: DRE] price surged by 0.48 percent to reach at $0.23. The company report on September 28, 2022 that Prologis Stockholders and Duke Realty Shareholders Approve Merger.


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Prologis, Inc. (NYSE: PLD) (“Prologis”) and Duke Realty Corporation (NYSE: DRE) (“Duke Realty”) today announced that Prologis stockholders and Duke Realty shareholders have voted, separately, to approve the proposed merger at their respective special meetings held virtually today, September 28, 2022.

According to the results of the Prologis Special Meeting of Stockholders, more than 99 percent of votes cast at the meeting – approximately 87 percent of the outstanding shares of Prologis common stock as of the record date – were voted in favor of the issuance of Prologis common stock in connection with the merger.  The final voting results of the Prologis Special Meeting will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission.

A sum of 41459657 shares traded at recent session while its average daily volume was at 2.41M shares. Duke Realty Corporation shares reached a high of $49.26 and dropped to a low of $48.11 until finishing in the latest session at $48.20.

The one-year DRE stock forecast points to a potential upside of 23.49.

Guru’s Opinion on Duke Realty Corporation [DRE]:

Robert W. Baird have made an estimate for Duke Realty Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 15, 2022. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $68 to $65. The new note on the price target was released on May 16, 2022, representing the official price target for Duke Realty Corporation stock. Previously, the target price had yet another raise to $63, while Truist analysts kept a Buy rating on DRE stock.

The Average True Range (ATR) for Duke Realty Corporation is set at 1.61, with the Price to Sales ratio for DRE stock in the period of the last 12 months amounting to 16.66. The Price to Book ratio for the last quarter was 2.94, with the Price to Cash per share for the same quarter was set at 0.12.

DRE Stock Performance Analysis:

Duke Realty Corporation [DRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.28. With this latest performance, DRE shares dropped by -18.10% in over the last four-week period, additionally sinking by -16.98% over the last 6 months – not to mention a rise of 0.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRE stock in for the last two-week period is set at 23.31, with the RSI for the last a single of trading hit 19.88, and the three-weeks RSI is set at 27.81 for Duke Realty Corporation [DRE]. The present Moving Average for the last 50 days of trading for this stock 58.93, while it was recorded at 48.64 for the last single week of trading, and 57.07 for the last 200 days.

Insight into Duke Realty Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Duke Realty Corporation [DRE] shares currently have an operating margin of +31.09 and a Gross Margin at +38.91. Duke Realty Corporation’s Net Margin is presently recorded at +77.00.

Return on Equity for this stock inclined to 15.20, with Return on Assets sitting at 8.71.

DRE Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DRE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Duke Realty Corporation go to 6.00%.

Duke Realty Corporation [DRE] Insider Position Details

There are presently around $18,040 million, or 99.96% of DRE stock, in the hands of institutional investors. The top three institutional holders of DRE stocks are: VANGUARD GROUP INC with ownership of 62,598,559, which is approximately 0.683% of the company’s market cap and around 0.14% of the total institutional ownership; COHEN & STEERS, INC., holding 46,853,079 shares of the stock with an approximate value of $2.26 billion in DRE stocks shares; and BLACKROCK INC., currently with $1.79 billion in DRE stock with ownership of nearly -0.25% of the company’s market capitalization.

Positions in Duke Realty Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 282 institutional holders increased their position in Duke Realty Corporation [NYSE:DRE] by around 36,064,356 shares. Additionally, 261 investors decreased positions by around 25,840,378 shares, while 93 investors held positions by with 312,364,638 shares. The mentioned changes placed institutional holdings at 374,269,372 shares, according to the latest SEC report filing. DRE stock had 77 new institutional investments in for a total of 12,190,813 shares, while 68 institutional investors sold positions of 2,839,131 shares during the same period.

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