Duke Realty Corp. Receives “Neutral” Rating from Zacks (DRE)
Duke Realty Corp. (NYSE:DRE)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Thursday, Analyst Ratings Net reports. They currently have a $16.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 6.31% from the stock’s previous close.
Zacks‘ analyst wrote, “Aided by improved rental operations and higher net operating income, Duke Realty’s third-quarter 2013 core FFO per share moved up year-over-year and was in line with the Zacks Consensus Estimate. The company’s portfolio repositioning efforts to strengthen its bulk industrial business in key markets also supported its financials. In addition, the company has a relatively healthy balance sheet with adequate liquidity. Furthermore, the strong fundamentals of healthcare sector position Duke Realty well for growth, going forward. However, the company faces stiff competition and its large development pipeline increases operational risks. Moreover, anticipated rise in interest rates in the long term also remain a matter of concern. Hence, we maintain our Neutral recommendation on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets upgraded shares of Duke Realty Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $18.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Duke Realty Corp. from $17.00 to $18.00 in a research note to investors on Thursday, October 31st. They now have a “neutral” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Duke Realty Corp. from $16.00 to $17.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.44.
Shares of Duke Realty Corp. (NYSE:DRE) traded up 0.07% on Thursday, hitting $15.05. 2,550,464 shares of the company’s stock traded hands. Duke Realty Corp. has a one year low of $14.11 and a one year high of $18.80. The stock’s 50-day moving average is $15.03 and its 200-day moving average is $15.63. The company has a market cap of $4.903 billion and a P/E ratio of 100.94.
Duke Realty Corp. (NYSE:DRE) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.28. The company had revenue of $291.69 million for the quarter, compared to the consensus estimate of $236.24 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. 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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