Stock analysts at BMO Capital Markets started coverage on shares of Duke Realty Corporation (NYSE:DRE) in a research note issued on Monday. The brokerage set a “market perform” rating on the real estate investment trust’s stock.
Other analysts have also recently issued reports about the company. BidaskClub raised Duke Realty Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Stifel Nicolaus upped their price target on Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $30.00 price target on shares of Duke Realty Corporation in a research note on Wednesday, June 7th. Barclays PLC lowered their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Finally, Bank of America Corporation cut Duke Realty Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $30.00 in a research note on Friday, June 23rd. One research 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 stock has an average rating of “Hold” and a consensus price target of $28.91.
Duke Realty Corporation (NYSE:DRE) traded down 2.32% during trading on Monday, hitting $29.44. 1,000,692 shares of the stock traded hands. The firm’s 50-day moving average is $28.93 and its 200 day moving average is $27.83. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $30.14. The stock has a market cap of $10.47 billion, a P/E ratio of 7.25 and a beta of 0.93.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million during the quarter, compared to analysts’ expectations of $185.25 million. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. During the same period in the previous year, the business posted $0.30 EPS. Equities research analysts forecast that Duke Realty Corporation will post $3.71 earnings per share for the current fiscal year.
In related news, EVP Peter D. Harrington sold 30,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of DRE. BlackRock Inc. raised its stake in Duke Realty Corporation by 1,882.9% in the 1st quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after acquiring an additional 40,138,665 shares during the period. Lasalle Investment Management Securities LLC increased its position in Duke Realty Corporation by 5,386.3% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 6,857,824 shares of the real estate investment trust’s stock worth $180,155,000 after buying an additional 6,732,824 shares during the period. Brookfield Asset Management Inc. bought a new position in Duke Realty Corporation during the 2nd quarter worth $130,756,000. Daiwa Securities Group Inc. increased its position in Duke Realty Corporation by 30.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock worth $226,671,000 after buying an additional 1,894,749 shares during the period. Finally, Vanguard Group Inc. increased its position 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 buying an additional 1,744,485 shares during the period. Institutional investors and hedge funds own 93.69% of the company’s stock.
About Duke Realty Corporation
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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