Zacks Reiterates Neutral Rating for Duke Realty Corp. (DRE)
Duke Realty Corp. (NYSE:DRE)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday, Analyst Ratings.Net reports. They currently have a $17.00 target price on the stock. Zacks‘ price objective indicates a potential upside of 8.07% from the company’s current price.
Zacks‘ analyst wrote, “Duke Realty’s second-quarter 2013 core FFO per share came in line with the Zacks Consensus Estimate, but moved up on year-over-year basis. This was aided by increased rental revenues, along with decline in general and administrative expenses. The company’s portfolio repositioning efforts to focus more on bulk industrial business in key markets also strengthened its financials. In addition, the raised lower end of the 2013 core FFO per share guidance was encouraging. Moreover, the company has a relatively healthy balance sheet with adequate liquidity. Yet, its large development pipeline and exposure to weak office markets increases operational risks. Moreover, the rising interest rates and capital market volatility remain matters of concern. Therefore, we maintain our Neutral recommendation on the stock. “
In other Duke Realty Corp. news, Director Charles Eitel unloaded 5,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $15.90, for a total transaction of $79,500.00. Following the transaction, the director now directly owns 6,398 shares of the company’s stock, valued at approximately $101,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DRE has been the subject of a number of other recent research reports. Analysts at Cowen and Company cut their price target on shares of Duke Realty Corp. (NYSE:DRE) from $18.00 to $16.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Duke Realty Corp. (NYSE:DRE) from $18.00 to $17.00 in a research note to investors on Tuesday, August 20th. They now have a “sector perform” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Duke Realty Corp. (NYSE:DRE) in a research note to investors on Friday, July 12th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Duke Realty Corp. has an average rating of “Hold” and an average price target of $16.70.
Shares of Duke Realty Corp. (NYSE:DRE) traded down 1.49% during mid-day trading on Monday, hitting $15.495. The stock had a trading volume of 577,805 shares. Duke Realty Corp. has a 1-year low of $12.71 and a 1-year high of $18.80. The stock’s 50-day moving average is $15.1 and its 200-day moving average is $16.42. The company has a market cap of $5.036 billion and a price-to-earnings ratio of 182.91.
Duke Realty Corp. (NYSE:DRE) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.01. The company had revenue of $275.46 million for the quarter, compared to the consensus estimate of $223.96 million. During the same quarter last year, the company posted $0.26 earnings per share. Analysts expect that Duke Realty Corp. will post $1.08 EPS for the current fiscal year.
Duke Realty Corporation (NYSE:DRE) is a self-administered and self-managed real estate investment trust (REIT).
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