Duke Realty Corp. (DRE) Upgraded to “Outperform” by Robert W. Baird
Robert W. Baird upgraded shares of Duke Realty Corp. (NYSE:DRE) from a neutral rating to an outperform rating in a report released on Monday. They currently have $30.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also recently issued research reports about the company. RBC Capital Markets reiterated an outperform rating and set a $28.00 target price (down previously from $30.00) on shares of Duke Realty Corp. in a report on Tuesday, November 22nd. Stifel Nicolaus increased their target price on Duke Realty Corp. from $28.00 to $30.00 and gave the stock a buy rating in a report on Tuesday, August 2nd. Royal Bank Of Canada increased their target price on Duke Realty Corp. from $24.00 to $30.00 and gave the stock an outperform rating in a report on Monday, August 1st. Mizuho lowered their target price on Duke Realty Corp. from $29.00 to $27.00 and set a neutral rating for the company in a report on Friday, October 28th. Finally, BTIG Research assumed coverage on Duke Realty Corp. in a report on Thursday, August 25th. They set a neutral rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $27.15.
Duke Realty Corp. (NYSE:DRE) opened at 25.38 on Monday. The company’s 50 day moving average price is $25.07 and its 200 day moving average price is $26.13. Duke Realty Corp. has a 52-week low of $18.52 and a 52-week high of $28.99. The firm has a market cap of $9.00 billion, a PE ratio of 30.88 and a beta of 1.02.
Duke Realty Corp. (NYSE:DRE) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Duke Realty Corp. had a net margin of 32.10% and a return on equity of 8.46%. The business earned $226.19 million during the quarter, compared to analysts’ expectations of $201.81 million. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that Duke Realty Corp. will post $1.20 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from Duke Realty Corp.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, November 14th. Duke Realty Corp.’s payout ratio is presently 92.68%.
A number of hedge funds and other institutional investors have recently made changes to their positions in DRE. Howe & Rusling Inc. boosted its position in shares of Duke Realty Corp. by 193.2% in the second quarter. Howe & Rusling Inc. now owns 4,075 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 2,685 shares during the period. IFP Advisors Inc boosted its position in shares of Duke Realty Corp. by 167.1% in the second quarter. IFP Advisors Inc now owns 4,226 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,644 shares during the period. Advisor Group Inc. boosted its position in shares of Duke Realty Corp. by 42.9% in the third quarter. Advisor Group Inc. now owns 5,106 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 1,534 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Duke Realty Corp. during the third quarter worth about $161,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Duke Realty Corp. by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 6,365 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 157 shares during the period. 94.86% of the stock is currently owned by institutional investors and hedge funds.
Duke Realty Corp. Company Profile
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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