Duke Realty Corporation (NYSE: DRE) shares rose in value on Monday February 6 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Investors turned cautious in early trading today with the Dow Jones Industrial Average DJIA, was off by 17 points, or 0.1%, to 20.054.
The S&P 500 SPX, -0.14% eased 5 points, or 0.2%, to 2,293, with seven of the 11 main sectors trading lower. Nearly all main sectors were trading lower, while materials and consumer staples led the losses.
The Nasdaq Composite COMP, -0.14% slipped 10 points, or 0.2%, at 5,144.
Analysts at Mizuho upgraded shares of Duke Realty Corporation (NYSE: DRE) from Neutral to Buy today. With a rating of Buy on the shares, the company has a 52-week high of $28.99. The one-year price target of $28.11 is higher than the opening price of $25.17, resulting a number of other analysts to issue statements on the stock recently. Share prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday Duke Realty Corporation (NYSE: DRE) shares last traded at $25.01, which represents an increase of $0.04 compared to the previous closing price. Opening at $25.17, they fluctuated from $24.98 and $25.17 throughout the day.
Duke Realty Corporation (NYSE: DRE) currently has a market cap of 8.87B.
Duke Realty Corporation (NYSE: DRE) Average Daily Trading Volume
263,377 shares crossed the trading desk yesterday, 34 percent below the norm, out of a total float 353,348,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Duke Realty Corporation (NYSE: DRE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Duke Realty Corporation (NYSE: DRE) now has a 50-day MA of $26.04 and 200-day MA of $26.44. It has traded in a 52-week range between $18.57 – 28.99 and today’s last price is 13.73%% lower than the 52 week high of $28.99.
Earnings growth is an important factor to consider when buying stocks and investors identify companies that have grown their earnings by at least 25% for the past 3 years.
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