The Duke Realty Corp (DRE) Given Consensus Recommendation of “Buy” by Brokerages

The Duke Realty Corp (DRE) Given Consensus Recommendation of “Buy” by Brokerages

DRE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Duke Realty Corp from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Bank of America Corp raised shares of Duke Realty Corp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $30.00 in a research report on Wednesday, April 5th. Mizuho raised shares of Duke Realty Corp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $27.00 to $28.00 in a research report on Monday, February 6th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and set a $28.00 target price on shares of Duke Realty Corp in a research note on Monday, March 20th. Finally, Barclays PLC increased their target price on Duke Realty Corp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th.

Duke Realty Corp (NYSE:DRE) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.64.

In other Duke Realty Corp news, Director Jack R. Shaw sold 4,803 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $27.57, for a total value of $132,418.71. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter M. Scott III sold 2,500 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $28.25, for a total value of $70,625.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of DRE. Vanguard Group Inc. raised its position in shares of Duke Realty Corp by 3.2% in the first 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. BlackRock Inc. raised its position in shares of Duke Realty Corp by 1,882.9% in the first quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock worth $1,110,444,000 after buying an additional 40,138,665 shares during the period. FMR LLC raised its position in shares of Duke Realty Corp by 1.5% in the first quarter. FMR LLC now owns 42,040,885 shares of the real estate investment trust’s stock worth $1,104,415,000 after buying an additional 635,211 shares during the period. State Street Corp raised its position in shares of Duke Realty Corp by 0.8% in the first quarter. State Street Corp now owns 18,125,314 shares of the real estate investment trust’s stock worth $476,150,000 after buying an additional 149,171 shares during the period. Finally, Morgan Stanley raised its position in shares of Duke Realty Corp by 1.6% in the third quarter. Morgan Stanley now owns 9,972,865 shares of the real estate investment trust’s stock worth $272,559,000 after buying an additional 158,514 shares during the period. 93.13% of the stock is currently owned by institutional investors. Duke Realty Corp (NYSE DRE) opened at 29.18 on Monday. The stock has a 50 day moving average of $28.13 and a 200 day moving average of $26.39. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 30.65 and a beta of 0.93. Duke Realty Corp has a 1-year low of $22.97 and a 1-year high of $29.25.

Duke Realty Corp (NYSE:DRE) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. Duke Realty Corp had a net margin of 34.60% and a return on equity of 9.27%. The firm had revenue of $227.30 million during the quarter, compared to the consensus estimate of $204.47 million. During the same quarter in the prior year, the company earned $0.28 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Duke Realty Corp will post $0.36 earnings per share for the current year. The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.60%. The ex-dividend date was Friday, May 12th. Duke Realty Corp’s dividend payout ratio is presently 86.36%.

About Duke Realty Corp 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DRE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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