Duke Realty Corp Stock Rating Reaffirmed by Zacks (DRE)
Duke Realty Corp (NYSE:DRE)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday. They currently have a $19.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 7.89% from the company’s current price.
Zacks’ analyst wrote, “Aided by rise in top line and offset by an increase in expenses, Duke Realty posted in line core FFO per share for first-quarter 2014 and exceeded the year-ago quarter figure. The company’s strong development platform, positions it better to explore new growth opportunities. Its portfolio repositioning efforts are poised to strengthen its bulk industrial business in key markets and support its financials. Furthermore, the decent fundamentals of the healthcare sector well position Duke Realty for growth, going forward. However, the company faces stiff competition and its large development pipeline increases operational risks. Additionally, the demand for office space remains modest due to adequate space availability, which consequently exerts pressure on rent and occupancies. Furthermore, an expected rise in interest rates in the long term remains a matter of concern. “
A number of other analysts have also recently weighed in on DRE. Analysts at RBC Capital raised their price target on shares of Duke Realty Corp from $19.00 to $20.00 in a research note on Friday, May 16th. They now have an “outperform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Duke Realty Corp from $17.00 to $19.00 in a research note on Tuesday, May 13th. Finally, analysts at TheStreet downgraded shares of Duke Realty Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.56.
Shares of Duke Realty Corp (NYSE:DRE) traded down 0.06% during mid-day trading on Friday, hitting $17.61. The stock had a trading volume of 1,964,980 shares. Duke Realty Corp has a one year low of $14.12 and a one year high of $18.24. The stock has a 50-day moving average of $17.55 and a 200-day moving average of $16.29. The company has a market cap of $5.802 billion and a P/E ratio of 40.60.
Duke Realty Corp (NYSE:DRE) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.28. On average, analysts predict that Duke Realty Corp will post $1.16 earnings per share 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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