Duke Realty Corporation’s (DRE) “Buy” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Duke Realty Corporation (NYSE:DRE) in a research note issued to investors on Thursday morning. The firm currently has a $31.00 target price on the real estate investment trust’s stock.
A number of other brokerages have also recently weighed in on DRE. BidaskClub upgraded shares of Duke Realty Corporation from a sell rating to a hold rating in a research report on Wednesday, July 19th. BMO Capital Markets assumed coverage on shares of Duke Realty Corporation in a report on Monday, September 11th. They issued a market perform rating and a $30.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an overweight rating in a report on Monday, July 17th. 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. Finally, Barclays PLC dropped their price objective on shares of Duke Realty Corporation from $26.00 to $25.00 and set an equal weight rating for the company in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $28.91.
Shares of Duke Realty Corporation (DRE) traded down 0.833% during mid-day trading on Thursday, hitting $29.175. 285,737 shares of the stock traded hands. The firm has a 50 day moving average of $29.16 and a 200 day moving average of $28.00. Duke Realty Corporation has a 12 month low of $22.97 and a 12 month high of $30.14. The company has a market cap of $10.38 billion, a P/E ratio of 7.190 and a beta of 0.93.
Duke Realty Corporation (NYSE:DRE) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The company had revenue of $165.84 million for the quarter, compared to the consensus estimate of $185.25 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities analysts anticipate that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio (DPR) is presently 18.86%.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc grew its holdings in Duke Realty Corporation by 10.0% during the 1st quarter. Legal & General Group Plc now owns 2,481,223 shares of the real estate investment trust’s stock worth $65,179,000 after acquiring an additional 226,426 shares in the last quarter. Vanguard Group Inc. grew its holdings in Duke Realty Corporation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock worth $1,496,116,000 after acquiring an additional 1,744,485 shares in the last quarter. Prudential Financial Inc. grew its holdings in Duke Realty Corporation by 18.1% during the 2nd quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock worth $75,141,000 after acquiring an additional 411,563 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Duke Realty Corporation during the 2nd quarter worth approximately $248,000. Finally, Global X Management Co. LLC grew its holdings in Duke Realty Corporation by 74.6% during the 2nd quarter. Global X Management Co. LLC now owns 9,714 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 4,152 shares in the last quarter. Institutional investors own 93.65% of the company’s stock.
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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