Duke Realty Corporation (NYSE:DRE) had its price objective upped by Stifel Nicolaus from $28.00 to $31.00 in a report published on Wednesday. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other brokerages have also commented on DRE. Zacks Investment Research lowered shares of Duke Realty Corporation from a hold rating to a sell rating in a report on Thursday, May 4th. Bank of America Corporation upgraded shares of Duke Realty Corporation from a neutral rating to a buy rating and raised their price objective for the stock from $28.00 to $30.00 in a report on Wednesday, April 5th. Royal Bank Of Canada restated a buy rating and issued a $30.00 price objective on shares of Duke Realty Corporation in a report on Wednesday, June 7th. BMO Capital Markets restated a hold rating and issued a $28.00 price objective on shares of Duke Realty Corporation in a report on Monday, March 20th. Finally, Barclays PLC raised their price objective on shares of Duke Realty Corporation from $25.00 to $26.00 and gave the stock an equal weight rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $29.00.

Analyst Recommendations for Duke Realty Corporation (NYSE:DRE)

Duke Realty Corporation (NYSE DRE) opened at 28.88 on Wednesday. The company’s 50-day moving average price is $28.44 and its 200-day moving average price is $26.73. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $29.25. The firm has a market capitalization of $10.27 billion, a P/E ratio of 30.34 and a beta of 0.94.

Duke Realty Corporation (NYSE:DRE) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Duke Realty Corporation had a net margin of 37.48% and a return on equity of 9.74%. The business had revenue of $227.30 million during the quarter, compared to analyst estimates of $204.47 million. During the same period last year, the business posted $0.28 earnings per share. Duke Realty Corporation’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Duke Realty Corporation will post $0.47 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, May 12th. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. Duke Realty Corporation’s payout ratio is 79.17%.

In other news, Director Peter M. Scott III sold 2,500 shares of Duke Realty Corporation stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $28.25, for a total transaction of $70,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack R. Shaw sold 4,803 shares of Duke Realty Corporation stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $27.57, for a total transaction of $132,418.71. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in DRE. BlackRock Inc. raised its position in Duke Realty Corporation by 1,882.9% in the first quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after buying an additional 40,138,665 shares during the last quarter. Lasalle Investment Management Securities LLC raised its position in Duke Realty Corporation by 5,386.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 6,857,824 shares of the real estate investment trust’s stock valued at $180,155,000 after buying an additional 6,732,824 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Duke Realty Corporation by 7,126.9% in the first quarter. Daiwa Securities Group Inc. now owns 6,215,141 shares of the real estate investment trust’s stock valued at $163,272,000 after buying an additional 6,129,141 shares during the last quarter. Norges Bank acquired a new position in Duke Realty Corporation during the fourth quarter valued at about $81,956,000. Finally, Vanguard Group Inc. raised its position in Duke Realty Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock valued at $1,496,116,000 after buying an additional 1,744,485 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.

About Duke Realty Corporation

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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