Goldman Sachs Group Initiates Coverage on Duke Realty (DRE)

Equities research analysts at Goldman Sachs Group began coverage on shares of Duke Realty (NYSE:DRE) in a research report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the real estate investment trust’s stock.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Duke Realty from a “hold” rating to a “sell” rating in a report on Monday, April 15th. SunTrust Banks upgraded Duke Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Barclays restated a “hold” rating and set a $28.00 target price on shares of Duke Realty in a research report on Thursday, February 14th. BTIG Research boosted their target price on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets restated a “buy” rating and set a $30.00 target price on shares of Duke Realty in a research report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.11.

Shares of DRE traded up $0.12 on Wednesday, hitting $30.56. The company’s stock had a trading volume of 1,495,486 shares, compared to its average volume of 2,062,779. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.38 and a current ratio of 2.38. Duke Realty has a fifty-two week low of $24.67 and a fifty-two week high of $31.69. The firm has a market capitalization of $10.94 billion, a PE ratio of 22.98, a P/E/G ratio of 4.55 and a beta of 0.75.

Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $205.45 million. Duke Realty had a return on equity of 7.37% and a net margin of 36.32%. Duke Realty’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Equities research analysts predict that Duke Realty will post 1.41 EPS for the current fiscal year.

In other news, Director Charles R. Eitel sold 5,075 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $29.89, for a total transaction of $151,691.75. Following the sale, the director now directly owns 4,169 shares of the company’s stock, valued at $124,611.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven W. Schnur sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.82, for a total transaction of $298,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,409 shares of company stock worth $1,150,145. Insiders own 0.29% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BB&T Securities LLC raised its position in shares of Duke Realty by 2.7% in the fourth quarter. BB&T Securities LLC now owns 13,242 shares of the real estate investment trust’s stock worth $342,000 after acquiring an additional 347 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Duke Realty by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,983 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 384 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Duke Realty by 4.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,491 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 392 shares during the period. Private Capital Group LLC raised its position in shares of Duke Realty by 27.4% in the first quarter. Private Capital Group LLC now owns 1,976 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 425 shares during the period. Finally, AlphaCrest Capital Management LLC raised its position in shares of Duke Realty by 3.2% during the 1st quarter. AlphaCrest Capital Management LLC now owns 14,134 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 434 shares during the last quarter. 94.55% of the stock is currently owned by hedge funds and other institutional investors.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 153 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index.

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Analyst Recommendations for Duke Realty (NYSE:DRE)

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