J P Morgan Chase & Co Downgrades Duke Realty (DRE) to Underweight

Duke Realty (NYSE:DRE) was downgraded by J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report released on Friday, MarketBeat Ratings reports. They presently have a $29.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target points to a potential upside of 4.24% from the company’s current price.

Several other research analysts have also issued reports on DRE. Citigroup raised shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target on shares of Duke Realty in a research report on Thursday. BMO Capital Markets set a $30.00 price target on shares of Duke Realty and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price target on shares of Duke Realty in a research report on Thursday, September 21st. Finally, BidaskClub raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Duke Realty currently has an average rating of “Hold” and an average target price of $29.67.

Duke Realty (NYSE DRE) traded up $0.01 during trading hours on Friday, reaching $27.82. 5,931,258 shares of the company traded hands, compared to its average volume of 2,687,282. Duke Realty has a 52-week low of $23.93 and a 52-week high of $30.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market capitalization of $9,872.23, a price-to-earnings ratio of 22.18, a PEG ratio of 5.11 and a beta of 0.90.

Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Duke Realty had a net margin of 178.66% and a return on equity of 6.36%. The firm had revenue of $169.61 million during the quarter, compared to analyst estimates of $168.75 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. equities research analysts expect that Duke Realty will post 1.24 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Duke Realty by 0.4% during the second quarter. Vanguard Group Inc. now owns 57,188,532 shares of the real estate investment trust’s stock worth $1,598,419,000 after buying an additional 237,017 shares during the last quarter. BlackRock Inc. grew its stake in Duke Realty by 8.6% during the second quarter. BlackRock Inc. now owns 45,922,413 shares of the real estate investment trust’s stock worth $1,283,532,000 after buying an additional 3,652,025 shares during the last quarter. State Street Corp grew its stake in Duke Realty by 0.4% during the second quarter. State Street Corp now owns 18,201,618 shares of the real estate investment trust’s stock worth $508,725,000 after buying an additional 76,304 shares during the last quarter. Northern Trust Corp grew its stake in Duke Realty by 10.7% during the second quarter. Northern Trust Corp now owns 5,491,114 shares of the real estate investment trust’s stock worth $153,477,000 after buying an additional 531,415 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Duke Realty by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 5,127,138 shares of the real estate investment trust’s stock worth $147,766,000 after buying an additional 256,491 shares during the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

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Duke Realty 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.