Duke Realty (DRE) Rating Reiterated by Royal Bank of Canada
Duke Realty (NYSE:DRE)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a report issued on Wednesday. They currently have a $31.00 price target on the real estate investment trust’s stock, up from their prior price target of $29.00. Royal Bank of Canada’s target price would indicate a potential upside of 17.87% from the stock’s current price.
A number of other equities research analysts have also issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $31.00 target price on shares of Duke Realty in a research note on Thursday, December 14th. JPMorgan Chase & Co. lowered shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research note on Friday, December 15th. Zacks Investment Research lowered shares of Duke Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BMO Capital Markets started coverage on shares of Duke Realty in a research note on Monday, September 11th. They issued a “market perform” rating and a $30.00 target price on the stock. Finally, Citigroup upgraded shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.75.
Shares of Duke Realty (NYSE DRE) traded down $0.51 during trading on Wednesday, hitting $26.30. 2,086,900 shares of the stock were exchanged, compared to its average volume of 2,291,733. The firm has a market cap of $9,400.00, a price-to-earnings ratio of 35.54, a PEG ratio of 4.84 and a beta of 0.90. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45. Duke Realty has a 1-year low of $23.93 and a 1-year high of $30.14.
Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $169.61 million for the quarter, compared to analyst estimates of $168.75 million. Duke Realty had a net margin of 178.66% and a return on equity of 6.36%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. equities analysts expect that Duke Realty will post 1.24 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its position in shares of Duke Realty by 8.8% during the 3rd quarter. Prudential Financial Inc. now owns 2,925,482 shares of the real estate investment trust’s stock valued at $84,313,000 after buying an additional 237,094 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Duke Realty by 5.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 451,335 shares of the real estate investment trust’s stock valued at $13,007,000 after buying an additional 23,324 shares during the last quarter. AXA grew its position in shares of Duke Realty by 324.6% during the 3rd quarter. AXA now owns 887,607 shares of the real estate investment trust’s stock valued at $25,581,000 after buying an additional 678,543 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Duke Realty by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 551,393 shares of the real estate investment trust’s stock valued at $15,891,000 after buying an additional 2,799 shares during the last quarter. Finally, Eii Capital Management Inc. bought a new stake in shares of Duke Realty during the 3rd quarter valued at about $2,046,000. 94.02% of the stock is owned by institutional investors and hedge funds.
About Duke Realty
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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