Duke Realty Corporation (DRE) Receives Consensus Recommendation of “Buy” from Brokerages

Duke Realty Corporation (NYSE:DRE) has been assigned a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.09.

DRE has been the subject of a number of recent research reports. Zacks Investment Research downgraded Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Barclays PLC boosted their price objective on Duke Realty Corporation from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Bank of America Corporation upgraded Duke Realty Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $30.00 in a research note on Wednesday, April 5th. Royal Bank Of Canada reiterated a “buy” rating and set a $30.00 price objective on shares of Duke Realty Corporation in a research note on Wednesday, June 7th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $28.00 price objective on shares of Duke Realty Corporation in a research note on Monday, March 20th.

In related news, Director Peter M. Scott III sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.25, for a total value of $70,625.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack R. Shaw sold 4,803 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $27.57, for a total value of $132,418.71. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its position in Duke Realty Corporation by 1.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 495,931 shares of the real estate investment trust’s stock worth $13,172,000 after buying an additional 8,426 shares in the last quarter. Cipher Capital LP acquired a new position in Duke Realty Corporation during the fourth quarter worth approximately $266,000. Dimensional Fund Advisors LP boosted its position in Duke Realty Corporation by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,636,271 shares of the real estate investment trust’s stock worth $123,136,000 after buying an additional 91,233 shares in the last quarter. Keybank National Association OH boosted its position in Duke Realty Corporation by 12.6% in the fourth quarter. Keybank National Association OH now owns 8,838 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 986 shares in the last quarter. Finally, Aviva PLC boosted its position in Duke Realty Corporation by 8.3% in the fourth quarter. Aviva PLC now owns 232,388 shares of the real estate investment trust’s stock worth $6,172,000 after buying an additional 17,861 shares in the last quarter. 92.93% of the stock is currently owned by institutional investors.

Shares of Duke Realty Corporation (NYSE DRE) traded down 2.1382% during midday trading on Tuesday, hitting $28.2625. 1,047,665 shares of the stock were exchanged. The stock has a market cap of $10.05 billion, a P/E ratio of 29.6875 and a beta of 0.94. Duke Realty Corporation has a 52-week low of $22.97 and a 52-week high of $29.25. The firm’s 50 day moving average price is $28.44 and its 200-day moving average price is $26.73.

Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The company had revenue of $227.30 million during the quarter, compared to the consensus estimate of $204.47 million. Duke Realty Corporation had a return on equity of 9.74% and a net margin of 37.48%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, equities research analysts expect that Duke Realty Corporation will post $0.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were issued a $0.19 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 2.63%. Duke Realty Corporation’s dividend payout ratio is presently 79.17%.

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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.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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