Duke Realty (NYSE:DRE) PT Raised to $36.00 at Stifel Nicolaus

Duke Realty (NYSE:DRE) had its target price increased by Stifel Nicolaus from $34.00 to $36.00 in a report published on Friday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms have also commented on DRE. BTIG Research lifted their price objective on Duke Realty from $73.00 to $82.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Zacks Investment Research lowered Duke Realty from a buy rating to a hold rating and set a $34.00 price objective on the stock. in a research note on Wednesday, June 19th. Goldman Sachs Group began coverage on Duke Realty in a research note on Wednesday, May 15th. They issued a buy rating and a $33.00 price objective on the stock. Scotiabank raised Duke Realty from a sector perform rating to an outperform rating in a research note on Thursday, June 27th. Finally, Bank of America lowered Duke Realty from a buy rating to a neutral rating and set a $30.81 price objective on the stock. in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $37.20.

Shares of DRE stock traded down $0.62 during mid-day trading on Friday, reaching $32.28. 762,036 shares of the stock traded hands, compared to its average volume of 2,034,026. The business has a fifty day moving average price of $32.57. Duke Realty has a 1-year low of $24.67 and a 1-year high of $33.83. The stock has a market capitalization of $11.82 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 5.25 and a beta of 0.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.38 and a current ratio of 1.90.

Duke Realty (NYSE:DRE) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.15). Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The firm had revenue of $213.11 million for the quarter, compared to analyst estimates of $212.46 million. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts expect that Duke Realty will post 1.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.86 annualized dividend and a yield of 2.66%. Duke Realty’s dividend payout ratio is currently 64.66%.

A number of hedge funds have recently bought and sold shares of DRE. PGGM Investments boosted its position in Duke Realty by 106.7% in the first quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock worth $425,158,000 after purchasing an additional 7,175,343 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Duke Realty by 434.8% in the first quarter. Centersquare Investment Management LLC now owns 4,789,011 shares of the real estate investment trust’s stock worth $146,448,000 after purchasing an additional 3,893,531 shares during the last quarter. Norges Bank purchased a new position in Duke Realty in the fourth quarter worth $93,469,000. SG Americas Securities LLC boosted its position in Duke Realty by 1,803.5% in the first quarter. SG Americas Securities LLC now owns 852,274 shares of the real estate investment trust’s stock worth $26,063,000 after purchasing an additional 807,500 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Duke Realty by 146.5% in the second quarter. Janus Henderson Group PLC now owns 1,134,710 shares of the real estate investment trust’s stock worth $35,855,000 after purchasing an additional 674,355 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

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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