Duke Realty (DRE) Upgraded to Buy by Citigroup
Duke Realty (NYSE:DRE) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday. The firm presently has a $32.00 price objective on the real estate investment trust’s stock. Citigroup’s price target would suggest a potential upside of 15.44% from the stock’s current price.
Several other equities analysts have also recently issued reports on DRE. BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. BMO Capital Markets initiated coverage on Duke Realty in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $31.00 price objective on shares of Duke Realty in a research note on Thursday, September 21st. J P Morgan Chase & Co cut Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, September 26th. Finally, Zacks Investment Research upgraded Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Duke Realty currently has an average rating of “Buy” and a consensus target price of $29.75.
Duke Realty (DRE) opened at $27.72 on Thursday. Duke Realty has a one year low of $23.93 and a one year high of $30.14. The stock has a market capitalization of $9,904.28, a price-to-earnings ratio of 22.25, a P/E/G ratio of 5.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.23 and a current ratio of 3.23.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The firm had revenue of $169.61 million for the quarter, compared to analysts’ expectations of $168.75 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts predict that Duke Realty will post 1.24 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of DRE. Bessemer Group Inc. increased its holdings in shares of Duke Realty by 4,741.6% during the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 3,651 shares during the period. First Personal Financial Services increased its holdings in shares of Duke Realty by 1.2% during the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 46 shares during the period. Advisor Group Inc. increased its holdings in shares of Duke Realty by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 12 shares during the period. Toronto Dominion Bank increased its holdings in shares of Duke Realty by 12.6% during the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 488 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in shares of Duke Realty during the second quarter valued at $201,000. 94.09% of the stock is currently owned by institutional investors.
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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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