Duke Realty Corp (NYSE:DRE) Receives Average Recommendation of “Buy” from Analysts

Shares of Duke Realty Corp (NYSE:DRE) have received a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.09.

A number of analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Liberty Property Trust in a research report on Wednesday, May 15th. They set a “neutral” rating and a $49.00 price objective for the company. BTIG Research lifted their price objective on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Bank of America set a $62.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Scotiabank raised Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th.

Several large investors have recently made changes to their positions in DRE. PGGM Investments lifted its position in shares of Duke Realty by 106.7% in the first quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock worth $425,158,000 after buying an additional 7,175,343 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Duke Realty by 434.8% in the first quarter. Centersquare Investment Management LLC now owns 4,789,011 shares of the real estate investment trust’s stock worth $146,448,000 after buying an additional 3,893,531 shares during the last quarter. Norges Bank acquired a new stake in shares of Duke Realty in the fourth quarter worth about $93,469,000. Millennium Management LLC lifted its position in shares of Duke Realty by 176.6% in the fourth quarter. Millennium Management LLC now owns 2,363,114 shares of the real estate investment trust’s stock worth $61,205,000 after buying an additional 1,508,876 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Duke Realty by 1,803.5% in the first quarter. SG Americas Securities LLC now owns 852,274 shares of the real estate investment trust’s stock worth $26,063,000 after buying an additional 807,500 shares during the last quarter. 93.82% of the stock is owned by institutional investors.

DRE traded down $0.23 during trading on Friday, reaching $33.01. 582,290 shares of the stock traded hands, compared to its average volume of 1,911,347. The stock has a market cap of $11.83 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73. Duke Realty has a fifty-two week low of $24.67 and a fifty-two week high of $33.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.38 and a current ratio of 2.38. The firm’s 50-day moving average price is $31.76.

Duke Realty (NYSE:DRE) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $205.45 million. Duke Realty had a return on equity of 7.37% and a net margin of 36.32%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that Duke Realty will post 1.42 EPS for the current year.

About Duke Realty

Duke Realty Corporation owns and operates approximately 153 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.

Featured Story: How is inflation measured?

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.