Duke Realty Corporation (NYSE:DRE) Receives Average Rating of “Hold” from Brokerages
Shares of Duke Realty Corporation (NYSE:DRE) have received an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $28.80.
A number of brokerages have recently issued reports on DRE. BidaskClub upgraded Duke Realty Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays PLC decreased their target price on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Morgan Stanley increased their target price on Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Bank of America Corporation lowered Duke Realty Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $30.00 in a research report on Friday, June 23rd. Finally, Stifel Nicolaus increased their target price on Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter M. Scott III sold 2,500 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $28.25, for a total value of $70,625.00. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Duke Realty Corporation by 5.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 43,224 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 2,057 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in shares of Duke Realty Corporation by 6.1% in the first quarter. Duncker Streett & Co. Inc. now owns 14,087 shares of the real estate investment trust’s stock worth $370,000 after buying an additional 813 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Duke Realty Corporation during the first quarter worth $505,000. Profund Advisors LLC raised its position in shares of Duke Realty Corporation by 4.2% in the first quarter. Profund Advisors LLC now owns 59,619 shares of the real estate investment trust’s stock worth $1,566,000 after buying an additional 2,401 shares during the last quarter. Finally, Korea Investment CORP raised its position in shares of Duke Realty Corporation by 27.4% in the first quarter. Korea Investment CORP now owns 440,003 shares of the real estate investment trust’s stock worth $11,559,000 after buying an additional 94,500 shares during the last quarter. Institutional investors own 93.34% of the company’s stock.
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Duke Realty Corporation (DRE) traded down 0.25% during trading on Friday, hitting $28.19. 1,473,128 shares of the stock traded hands. The stock has a market cap of $10.03 billion, a P/E ratio of 6.95 and a beta of 0.94. The stock has a 50 day moving average price of $28.14 and a 200-day moving average price of $27.19. Duke Realty Corporation has a 52-week low of $22.97 and a 52-week high of $29.25.
Duke Realty Corporation (NYSE:DRE) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. During the same quarter last year, the firm posted $0.30 EPS. On average, analysts anticipate that Duke Realty Corporation will post $3.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 2.69%. Duke Realty Corporation’s payout ratio is currently 18.86%.
Duke Realty Corporation Company Profile
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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