Price Action Don’t Lie: Duke Realty Corp Gap Down Today Means Higher Risks Forward

Price Action Don't Lie: Duke Realty Corp Gap Down Today Means Higher Risks Forward

The stock of Duke Realty Corp (NYSE:DRE) gapped down by $0.07 today and has $24.94 target or 7.00% below today’s $26.82 share price. The 7 months technical chart setup indicates high risk for the $9.45B company. The gap down was reported on Oct, 4 by Barchart.com. If the $24.94 price target is reached, the company will be worth $661.50 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.87% or $0.51 on October 3, hitting $26.82. Duke Realty Corp (NYSE:DRE) has risen 26.09% since March 1, 2016 and is uptrending. It has outperformed by 13.88% the S&P500.

Analysts await Duke Realty Corp (NYSE:DRE) to report earnings on October, 26. They expect $0.30 earnings per share, up 3.45% or $0.01 from last year’s $0.29 per share. DRE’s profit will be $105.70M for 22.35 P/E if the $0.30 EPS becomes a reality. After $0.30 actual earnings per share reported by Duke Realty Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Duke Realty Corp (NYSE:DRE) Ratings Coverage

Out of 9 analysts covering Duke Realty (NYSE:DRE), 4 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 44% are positive. Duke Realty has been the topic of 14 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, August 25 by BTIG Research. The stock of Duke Realty Corp (NYSE:DRE) has “Buy” rating given on Monday, December 14 by Goldman Sachs. The stock of Duke Realty Corp (NYSE:DRE) has “Sell” rating given on Monday, November 9 by Miller Tabak. The stock has “Neutral” rating given by Mizuho on Wednesday, September 28. The firm earned “Hold” rating on Thursday, November 12 by BB&T Capital. Robert W. Baird downgraded the stock to “Outperform” rating in Tuesday, August 11 report. The rating was upgraded by UBS on Wednesday, August 19 to “Buy”. The firm earned “Hold” rating on Wednesday, September 9 by Miller Tabak. The company was maintained on Tuesday, July 19 by Barclays Capital. The company was maintained on Thursday, February 4 by Barclays Capital.

According to Zacks Investment Research, “Duke Realty Corporation is the largest publicly traded office and industrial real estate company in the United States and a member of the Forbes Super 500. They offer a complete range of real estate products and services.”

Insitutional Activity: The institutional sentiment increased to 1.69 in Q2 2016. Its up 0.62, from 1.07 in 2016Q1. The ratio improved, as 24 funds sold all Duke Realty Corp shares owned while 78 reduced positions. 39 funds bought stakes while 133 increased positions. They now own 331.94 million shares or 2.01% more from 325.39 million shares in 2016Q1.
Dai Ichi Life Ins Limited has invested 0.05% of its portfolio in Duke Realty Corp (NYSE:DRE). Sg Americas Ltd accumulated 0.03% or 169,696 shares. Parametric Portfolio Assoc Ltd Liability Co holds 595,650 shares or 0.03% of its portfolio. Tradewinds Mngmt Ltd Liability owns 233 shares or 0% of their US portfolio. Saturna Corporation last reported 0.01% of its portfolio in the stock. Commonwealth Financial Bank Of Aus has 0% invested in the company for 3,028 shares. Central Bank & Trust has 0% invested in the company for 400 shares. Bb&T Secs Ltd Liability last reported 0% of its portfolio in the stock. Axa reported 1,161 shares or 0% of all its holdings. Qs Investors Llc, a New York-based fund reported 30 shares. Weaver C Barksdale And Associate holds 0.01% of its portfolio in Duke Realty Corp (NYSE:DRE) for 179 shares. Putnam Lc last reported 185,149 shares in the company. Wright holds 0.18% or 16,720 shares in its portfolio. The New York-based Tower Ltd (Trc) has invested 0.05% in Duke Realty Corp (NYSE:DRE). Parkside Bank & Trust accumulated 0.01% or 1,000 shares.

Insider Transactions: Since May 4, 2016, the stock had 1 insider purchase, and 2 sales for $1.79 million net activity. $1.83M worth of Duke Realty Corp (NYSE:DRE) was sold by OKLAK DENNIS D on Wednesday, June 8. KENNEDY STEVEN R had sold 820 shares worth $18,155 on Wednesday, May 4. The insider SCOTT PETER M III bought 2,500 shares worth $56,150.

Another recent and important Duke Realty Corp (NYSE:DRE) news was published by Finance.Yahoo.com which published an article titled: “Duke Realty to Bring Distribution Facility for Floor & Decor” on September 16, 2016.

DRE Company Profile

Duke Realty Corporation, incorporated on March 12, 1992, is a self-administered and self-managed real estate investment trust (REIT). The Firm operates in four divisions: industrial, medical office, office real estate investments and service operations. The Service activities 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. The Firm conducts its Service Operations through Duke Realty Services, LLC, Duke Realty Services Limited Partnership and Duke Construction Limited Partnership (DCLP).

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