Duke Realty Corp (NYSE: DRE)
Duke Realty didn’t look like it was going to have the best of days in the market today. At the opening bell, the stock was already trading well into the red. Throughout the first hour or so, the stock saw some ups and downs, but stayed in the red. However, minutes ago, it quickly spiked into the green. Below, we’ll talk about what we’re seeing from DRE, why, and what we’ll be watching for ahead.
What We’re Seeing From DRE
As mentioned above, Duke Realty Corp didn’t look like it was going to have the best of days in the market today. In fact, at the opening bell, the stock was trading pretty deep into the red. Throughout the morning, the stock saw movement in both directions, but stayed in the realm of losses. Nonetheless, minutes ago, that changed as the stock started to run for the top. Currently (10:28), DRE is trading at $25.74 per share after a gain of $0.05 per share or 0.19% thus far today.
Why The Stock Is Headed Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on DRE. As soon as we received the alert, the CNA Finance team went to work to see exactly why the stock was running for the top. It didn’t take long to dig up the story. The gains seem to be the result of sale exploration.
At the moment, there is a story breaking that Duke Realty is considering the sale of its Medical Offic portfolio. This portfolio is a massive one. In fact, some reports suggest that the portfolio could have a value of up to $3 billion. Of course, if the company does decide to sell its medical office portfolio, the sale will likely lead to an incredible return of value for shareholders.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DRE. In particular, we’re watching to see what happens with the sale exploration news, and if the portfolio is sold, at what price. Nonetheless, as always, we’ll be watching the news closely and bringing it to you as it breaks!
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