Duke Realty (DRE) Now Covered by Analysts at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Duke Realty (NYSE:DRE) in a report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $33.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the stock. SunTrust Banks raised shares of Duke Realty from a hold rating to a buy rating in a report on Tuesday, January 15th. BMO Capital Markets reissued a buy rating and issued a $30.00 target price on shares of Duke Realty in a report on Wednesday, January 30th. Barclays reissued a hold rating and issued a $28.00 target price on shares of Duke Realty in a report on Thursday, February 14th. Zacks Investment Research cut shares of Duke Realty from a hold rating to a sell rating in a report on Wednesday, January 30th. Finally, BTIG Research raised their target price on shares of Duke Realty from $73.00 to $82.00 and gave the stock a buy rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Duke Realty currently has a consensus rating of Buy and an average target price of $35.35.

Shares of NYSE DRE opened at $30.73 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.60. Duke Realty has a 52-week low of $24.67 and a 52-week high of $31.69. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 4.60 and a beta of 0.75.

Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Duke Realty had a net margin of 36.32% and a return on equity of 7.37%. The firm had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $205.45 million. During the same quarter last year, the company posted $0.30 earnings per share. Duke Realty’s revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Duke Realty will post 1.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be paid a $0.215 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.86 annualized dividend and a dividend yield of 2.80%. Duke Realty’s payout ratio is currently 64.66%.

In other Duke Realty news, EVP Ann C. Dee sold 18,334 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $29.77, for a total value of $545,803.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Eitel sold 5,075 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 4,169 shares in the company, valued at approximately $124,611.41. The disclosure for this sale can be found here. Insiders sold 38,409 shares of company stock worth $1,150,145 in the last 90 days. 0.29% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BB&T Securities LLC increased its stake in shares of Duke Realty by 2.7% during the fourth quarter. BB&T Securities LLC now owns 13,242 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 347 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Duke Realty by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,983 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 384 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Duke Realty by 4.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,491 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 392 shares during the period. Private Capital Group LLC increased its stake in shares of Duke Realty by 27.4% during the first quarter. Private Capital Group LLC now owns 1,976 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 425 shares during the period. Finally, AlphaCrest Capital Management LLC increased its stake in shares of Duke Realty by 3.2% during the first quarter. AlphaCrest Capital Management LLC now owns 14,134 shares of the real estate investment trust’s stock valued at $432,000 after acquiring an additional 434 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.

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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