Equities researchers at BMO Capital Markets assumed coverage on shares of Duke Realty Corp (NYSE:DRE) in a note issued to investors on Monday. The firm set a “market perform” rating and a $30.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential downside of 0.46% from the stock’s previous close.
Several other analysts also recently issued reports on DRE. BidaskClub downgraded Duke Realty Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley upped their price target on Duke Realty Corp from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Barclays PLC cut their price target on Duke Realty Corp from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $30.00 price target on shares of Duke Realty Corp in a report on Wednesday, June 7th. Finally, Bank of America Corporation cut Duke Realty Corp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $30.00 in a report on Friday, June 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 stock. The company has an average rating of “Hold” and a consensus target price of $28.91.
Duke Realty Corp (DRE) traded up 2.76% during mid-day trading on Monday, reaching $30.14. The company had a trading volume of 3,507,457 shares. The stock’s 50-day moving average is $28.93 and its 200 day moving average is $27.81. Duke Realty Corp has a 12 month low of $22.97 and a 12 month high of $30.14. The firm has a market capitalization of $10.72 billion, a P/E ratio of 7.43 and a beta of 0.93.
Duke Realty Corp (NYSE:DRE) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corp had a return on equity of 10.07% and a net margin of 62.93%. During the same period in the previous year, the firm earned $0.30 earnings per share. On average, analysts predict that Duke Realty Corp will post $3.04 earnings per share for the current fiscal year.
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In other Duke Realty Corp news, EVP Peter D. Harrington sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.
A number of large investors have recently bought and sold shares of DRE. BlackRock Inc. increased its stake in Duke Realty Corp by 1,882.9% in the 1st quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after buying an additional 40,138,665 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in Duke Realty Corp by 5,386.3% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 6,857,824 shares of the real estate investment trust’s stock worth $180,155,000 after buying an additional 6,732,824 shares during the period. Brookfield Asset Management Inc. bought a new position in Duke Realty Corp in the 2nd quarter worth approximately $130,756,000. Daiwa Securities Group Inc. boosted its holdings in Duke Realty Corp by 30.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock worth $226,671,000 after buying an additional 1,894,749 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Duke Realty Corp by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock worth $1,496,116,000 after buying an additional 1,744,485 shares during the period. Hedge funds and other institutional investors own 93.69% of the company’s stock.
About Duke Realty Corp
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.
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