Duke Realty Corp (NYSE:DRE) Receives Consensus Recommendation of “Buy” from Analysts

Duke Realty Corp (NYSE:DRE) has been assigned a consensus rating of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $38.35.

A number of equities analysts have recently weighed in on DRE shares. Stifel Nicolaus upped their target price on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Wednesday, June 19th. Finally, Scotiabank upgraded Duke Realty from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th.

Shares of DRE traded up $0.08 during trading hours on Wednesday, reaching $33.60. The company’s stock had a trading volume of 36,648 shares, compared to its average volume of 1,882,226. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 5.21 and a beta of 0.72. Duke Realty has a 1-year low of $24.67 and a 1-year high of $33.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $33.06 and a two-hundred day moving average of $31.75.



Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $213.11 million during the quarter, compared to analyst estimates of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. Duke Realty’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, analysts forecast that Duke Realty will post 1.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.215 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.86 annualized dividend and a dividend yield of 2.56%. Duke Realty’s payout ratio is 64.66%.

In related news, EVP Nicholas C. Anthony sold 7,806 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter D. Harrington sold 10,297 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total value of $342,890.10. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Doyle Wealth Management bought a new stake in Duke Realty during the second quarter worth approximately $25,000. NumerixS Investment Technologies Inc bought a new stake in Duke Realty during the second quarter worth approximately $36,000. Steward Partners Investment Advisory LLC bought a new stake in Duke Realty during the second quarter worth approximately $38,000. CSat Investment Advisory L.P. boosted its position in Duke Realty by 48.7% during the second quarter. CSat Investment Advisory L.P. now owns 1,338 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 438 shares during the period. Finally, Huntington National Bank boosted its position in Duke Realty by 18.0% during the second quarter. Huntington National Bank now owns 2,934 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 448 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

About Duke Realty

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.

Read More: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Duke Realty (NYSE:DRE)

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.