Duke Realty Corp (DRE) Receives Consensus Recommendation of “Hold” from Brokerages

Duke Realty Corp (NYSE:DRE) has earned an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.55.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Tuesday, September 26th. Royal Bank of Canada lowered Duke Realty from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Wednesday, January 3rd. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective on shares of Duke Realty in a report on Thursday, December 14th. Zacks Investment Research raised Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Monday, October 30th. Finally, BMO Capital Markets set a $30.00 price objective on Duke Realty and gave the stock a “hold” rating in a report on Wednesday, October 25th.

Duke Realty (DRE) traded up $0.16 during midday trading on Monday, hitting $26.46. The stock had a trading volume of 1,891,700 shares, compared to its average volume of 2,191,725. The company has a market cap of $9,423.49, a PE ratio of 6.35, a price-to-earnings-growth ratio of 4.80 and a beta of 0.90. Duke Realty has a 12 month low of $23.93 and a 12 month high of $30.14. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.45.

Duke Realty (NYSE:DRE) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $169.61 million for the quarter, compared to analysts’ expectations of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. equities research analysts forecast that Duke Realty will post 1.24 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were issued a dividend of $0.85 per share. This represents a yield of 2.74%. The ex-dividend date was Thursday, November 30th. This is a positive change from Duke Realty’s previous special dividend of $0.20. Duke Realty’s payout ratio is presently 19.18%.

A number of hedge funds have recently bought and sold shares of the business. Brookfield Asset Management Inc. bought a new stake in shares of Duke Realty during the 2nd quarter valued at about $130,756,000. BlackRock Inc. boosted its position in shares of Duke Realty by 8.6% during the 2nd quarter. BlackRock Inc. now owns 45,922,413 shares of the real estate investment trust’s stock valued at $1,283,532,000 after acquiring an additional 3,652,025 shares during the last quarter. Boston Partners bought a new stake in shares of Duke Realty during the 3rd quarter valued at about $93,065,000. Lord Abbett & CO. LLC boosted its position in shares of Duke Realty by 95.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,973,900 shares of the real estate investment trust’s stock valued at $83,121,000 after acquiring an additional 1,452,100 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Duke Realty by 44.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,732,853 shares of the real estate investment trust’s stock valued at $78,761,000 after acquiring an additional 835,750 shares during the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Duke Realty (NYSE:DRE)

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