Duke Realty Corp (DRE) Receives Hold Rating from BMO Capital Markets
Duke Realty Corp (NYSE:DRE)‘s stock had its “hold” rating reiterated by stock analysts at BMO Capital Markets in a report issued on Monday. They currently have a $28.00 target price on the real estate investment trust’s stock. BMO Capital Markets’ price objective points to a potential upside of 8.61% from the stock’s current price.
DRE has been the topic of several other reports. Barclays PLC decreased their price target on shares of Duke Realty Corp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Robert W. Baird raised shares of Duke Realty Corp from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, November 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target (down from $30.00) on shares of Duke Realty Corp in a research note on Tuesday, November 22nd. JPMorgan Chase & Co. raised shares of Duke Realty Corp from a “neutral” rating to an “overweight” rating and set a $28.00 price target on the stock in a research note on Friday, December 16th. Finally, Stifel Nicolaus decreased their price target on shares of Duke Realty Corp from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, January 27th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.36.
Duke Realty Corp (NYSE:DRE) traded up 0.62% during midday trading on Monday, reaching $25.78. 1,741,252 shares of the company’s stock traded hands. The firm’s 50-day moving average is $25.25 and its 200-day moving average is $25.89. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 29.20 and a beta of 0.93. Duke Realty Corp has a 1-year low of $21.11 and a 1-year high of $28.99.
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Duke Realty Corp (NYSE:DRE) last posted its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.24. The firm had revenue of $204.26 million for the quarter, compared to the consensus estimate of $205.04 million. Duke Realty Corp had a net margin of 34.60% and a return on equity of 9.27%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. Analysts forecast that Duke Realty Corp will post $0.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Thursday, February 16th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, February 14th. Duke Realty Corp’s payout ratio is currently 86.36%.
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In related news, Director Charles R. Eitel sold 5,246 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $25.52, for a total transaction of $133,877.92. Following the completion of the sale, the director now directly owns 4,949 shares in the company, valued at $126,298.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its stake in Duke Realty Corp by 0.3% in the third quarter. Suntrust Banks Inc. now owns 43,583 shares of the real estate investment trust’s stock valued at $1,191,000 after buying an additional 110 shares during the last quarter. UMB Bank N A MO boosted its stake in Duke Realty Corp by 2.8% in the third quarter. UMB Bank N A MO now owns 7,833 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 210 shares during the last quarter. Investment Counselors of Maryland LLC boosted its stake in Duke Realty Corp by 5.4% in the third quarter. Investment Counselors of Maryland LLC now owns 6,653 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 340 shares during the last quarter. BOKF NA boosted its stake in Duke Realty Corp by 0.9% in the third quarter. BOKF NA now owns 50,700 shares of the real estate investment trust’s stock valued at $1,386,000 after buying an additional 460 shares during the last quarter. Finally, Creative Planning boosted its stake in Duke Realty Corp by 6.5% in the third quarter. Creative Planning now owns 7,655 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.
Duke Realty Corp Company Profile
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.
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