Duke Realty Corp. (NYSE:DRE) Given Average Recommendation of “Hold” by Brokerages
Duke Realty Corp. (NYSE:DRE) has earned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.20.
Several brokerages have weighed in on DRE. Morgan Stanley reissued a “buy” rating and set a $31.00 price objective on shares of Duke Realty Corp. in a report on Wednesday, September 7th. BTIG Research began coverage on shares of Duke Realty Corp. in a report on Thursday, August 25th. They set a “neutral” rating for the company. Stifel Nicolaus raised their price target on shares of Duke Realty Corp. from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. RBC Capital Markets restated an “outperform” rating and issued a $30.00 price target (up from $24.00) on shares of Duke Realty Corp. in a research report on Monday, August 1st. Finally, Royal Bank Of Canada raised their price target on shares of Duke Realty Corp. from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st.
In other Duke Realty Corp. news, EVP Steven R. Kennedy sold 26,649 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $25.41, for a total transaction of $677,151.09. Following the sale, the executive vice president now directly owns 42,691 shares in the company, valued at approximately $1,084,778.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles R. Eitel sold 3,575 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $25.94, for a total transaction of $92,735.50. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Duke Realty Corp. during the fourth quarter worth approximately $34,919,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Duke Realty Corp. by 12.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 109,349 shares of the real estate investment trust’s stock worth $2,465,000 after buying an additional 12,072 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in Duke Realty Corp. by 16.0% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 22,538 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 3,116 shares during the period. Delta Asset Management LLC TN increased its stake in Duke Realty Corp. by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 14,872 shares of the real estate investment trust’s stock worth $335,000 after buying an additional 217 shares during the period. Finally, Sii Investments Inc. WI increased its stake in Duke Realty Corp. by 2.7% in the first quarter. Sii Investments Inc. WI now owns 18,495 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 482 shares during the period. Institutional investors own 95.86% of the company’s stock.
Shares of Duke Realty Corp. (NYSE:DRE) traded down 0.74% on Wednesday, reaching $26.70. 1,709,927 shares of the company’s stock traded hands. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 36.93 and a beta of 1.14. The company has a 50 day moving average price of $27.79 and a 200 day moving average price of $24.96. Duke Realty Corp. has a 52 week low of $18.44 and a 52 week high of $28.99.
Duke Realty Corp. (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company earned $200.50 million during the quarter, compared to analyst estimates of $202.67 million. Duke Realty Corp. had a net margin of 27.88% and a return on equity of 7.51%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities research analysts predict that Duke Realty Corp. will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th were given a $0.18 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.72 annualized dividend and a yield of 2.68%. Duke Realty Corp.’s dividend payout ratio is presently 100.00%.
About Duke Realty Corp.
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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