BMO Capital Markets assumed coverage on shares of Duke Realty Corporation (NYSE:DRE) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $30.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Duke Realty Corporation from a hold rating to a buy rating in a report on Wednesday, August 23rd. Stifel Nicolaus upped their price objective on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the company a buy rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a buy rating and set a $30.00 price objective on shares of Duke Realty Corporation in a report on Wednesday, June 7th. Barclays PLC dropped their price objective on shares of Duke Realty Corporation from $26.00 to $25.00 and set an equal weight rating on the stock in a report on Tuesday, July 18th. Finally, Bank of America Corporation lowered shares of Duke Realty Corporation from a buy rating to a neutral rating and dropped their price objective for the company from $32.00 to $30.00 in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $28.91.
Shares of Duke Realty Corporation (DRE) opened at 29.70 on Monday. The firm has a market cap of $10.57 billion, a P/E ratio of 7.32 and a beta of 0.93. The company’s 50-day moving average price is $29.09 and its 200 day moving average price is $27.90. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $30.14.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data 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. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that Duke Realty Corporation will post $3.71 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.76 annualized dividend and a yield of 2.56%. Duke Realty Corporation’s dividend payout ratio (DPR) is 18.86%.
In other news, EVP Peter D. Harrington sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of Duke Realty Corporation by 4,741.6% during the 2nd quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 3,651 shares during the period. Toronto Dominion Bank grew its position in shares of Duke Realty Corporation by 9.6% during the 1st quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 341 shares during the period. First Personal Financial Services grew its position in shares of Duke Realty Corporation by 1.2% during the 2nd quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 46 shares during the period. Advisor Group Inc. grew its position in shares of Duke Realty Corporation by 0.3% during the 2nd quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 12 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in shares of Duke Realty Corporation during the 1st quarter valued at approximately $132,000. 93.69% of the stock is owned by hedge funds and other institutional investors.
Duke Realty Corporation Company Profile
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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