Duke Realty (NYSE:DRE) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a $32.00 price target on the real estate investment trust’s stock. Citigroup’s price objective would indicate a potential upside of 15.07% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Monday, October 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 target price on shares of Duke Realty in a research note on Thursday, September 21st. BMO Capital Markets set a $30.00 target price on Duke Realty and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, J P Morgan Chase & Co cut Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Tuesday, September 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $29.75.
Shares of Duke Realty (NYSE:DRE) traded up $0.09 on Thursday, reaching $27.81. The company’s stock had a trading volume of 2,092,036 shares, compared to its average volume of 2,673,807. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45. Duke Realty has a 52-week low of $23.93 and a 52-week high of $30.14. The company has a market cap of $9,870.00, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 5.13 and a beta of 0.90.
Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. sell-side analysts forecast that Duke Realty will post 1.24 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its stake in shares of Duke Realty by 4,741.6% during the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 3,651 shares during the period. First Personal Financial Services grew its stake in shares of Duke Realty by 1.2% during the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 46 shares during the period. Advisor Group Inc. grew its stake in shares of Duke Realty by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 12 shares during the period. Toronto Dominion Bank grew its stake in shares of Duke Realty by 12.6% during the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 488 shares during the period. Finally, Fiduciary Trust Co. acquired a new stake in shares of Duke Realty during the second quarter worth $201,000. 94.09% of the stock is owned by institutional investors and hedge funds.
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About Duke Realty
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.