Duke Realty Corp (DRE) Receives Consensus Rating of “Hold” from Analysts

Duke Realty Corp (NYSE:DRE) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.86.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Duke Realty from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. BMO Capital Markets reiterated a “hold” rating and issued a $30.00 price objective on shares of Duke Realty in a research note on Wednesday, October 24th. SunTrust Banks set a $28.00 price objective on shares of Duke Realty and gave the company a “hold” rating in a research note on Tuesday, August 7th. Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price objective on shares of Duke Realty in a research note on Monday, July 30th. Finally, Barclays reiterated a “hold” rating and issued a $26.00 price objective on shares of Duke Realty in a research note on Sunday, October 14th.

NYSE:DRE traded down $0.27 on Friday, hitting $27.54. The stock had a trading volume of 1,547,394 shares, compared to its average volume of 2,171,360. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.64 and a current ratio of 2.60. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 4.30 and a beta of 0.54. Duke Realty has a 1 year low of $24.30 and a 1 year high of $29.48.

Duke Realty (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $196.91 million during the quarter, compared to analyst estimates of $197.78 million. Duke Realty had a net margin of 56.94% and a return on equity of 8.01%. As a group, sell-side analysts forecast that Duke Realty will post 1.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.86 annualized dividend and a dividend yield of 3.12%. This is a positive change from Duke Realty’s previous quarterly dividend of $0.20. Duke Realty’s dividend payout ratio (DPR) is presently 64.52%.

In other news, EVP Peter D. Harrington sold 16,500 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $28.98, for a total transaction of $478,170.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Melanie R. Sabelhaus sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $27.98, for a total transaction of $69,950.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Duke Realty by 4.2% in the 2nd quarter. BlackRock Inc. now owns 39,546,166 shares of the real estate investment trust’s stock worth $1,148,025,000 after buying an additional 1,585,819 shares during the period. Boston Partners boosted its holdings in Duke Realty by 2.6% in the 2nd quarter. Boston Partners now owns 6,783,307 shares of the real estate investment trust’s stock worth $196,920,000 after buying an additional 174,944 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Duke Realty by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,456,041 shares of the real estate investment trust’s stock worth $158,388,000 after buying an additional 65,376 shares during the period. PGGM Investments boosted its holdings in Duke Realty by 15.6% in the 2nd quarter. PGGM Investments now owns 5,407,800 shares of the real estate investment trust’s stock worth $156,988,000 after buying an additional 729,200 shares during the period. Finally, AEW Capital Management L P boosted its holdings in Duke Realty by 7.4% in the 2nd quarter. AEW Capital Management L P now owns 4,812,800 shares of the real estate investment trust’s stock worth $139,716,000 after buying an additional 330,800 shares during the period. Institutional investors own 93.47% of the company’s stock.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 150 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index.

See Also: What are the most popular ETFs

Analyst Recommendations for Duke Realty (NYSE:DRE)

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply