Duke Realty Corp. (NYSE:DRE) had its target price lowered by Royal Bank Of Canada from $30.00 to $28.00 in a research note published on Tuesday morning. The firm currently has an outperform rating on the real estate investment trust’s stock.
DRE has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on shares of Duke Realty Corp. from $28.00 to $30.00 and gave the stock a buy rating in a report on Tuesday, August 2nd. Mizuho assumed coverage on shares of Duke Realty Corp. in a report on Wednesday, September 28th. They issued a neutral rating and a $29.00 target price for the company. BTIG Research assumed coverage on shares of Duke Realty Corp. in a report on Thursday, August 25th. They issued a neutral rating for the company. Oppenheimer Holdings Inc. boosted their target price on shares of Duke Realty Corp. from $26.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Finally, RBC Capital Markets reiterated an outperform rating and issued a $30.00 target price (up from $24.00) on shares of Duke Realty Corp. in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Duke Realty Corp. presently has an average rating of Hold and a consensus target price of $26.92.
Duke Realty Corp. (NYSE:DRE) opened at 24.73 on Tuesday. The stock has a 50 day moving average of $25.11 and a 200 day moving average of $26.06. Duke Realty Corp. has a 52 week low of $18.52 and a 52 week high of $28.99. The company has a market cap of $8.77 billion, a PE ratio of 30.09 and a beta of 1.02.
Duke Realty Corp. (NYSE:DRE) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm earned $226.19 million during the quarter, compared to the consensus estimate of $201.81 million. Duke Realty Corp. had a return on equity of 8.46% and a net margin of 32.10%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Equities research analysts predict that Duke Realty Corp. will post $1.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be given a $0.19 dividend. The ex-dividend date is Monday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Duke Realty Corp.’s previous quarterly dividend of $0.18. Duke Realty Corp.’s dividend payout ratio is currently 92.68%.
Large investors have recently modified their holdings of the stock. Howe & Rusling Inc. raised its stake in shares of Duke Realty Corp. by 193.2% in the second quarter. Howe & Rusling Inc. now owns 4,075 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 2,685 shares in the last quarter. IFP Advisors Inc increased its position in shares of Duke Realty Corp. by 167.1% in the second quarter. IFP Advisors Inc now owns 4,226 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,644 shares during the last quarter. Advisor Group Inc. increased its position in shares of Duke Realty Corp. by 42.9% in the third quarter. Advisor Group Inc. now owns 5,106 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 1,534 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Duke Realty Corp. during the third quarter worth about $161,000. Finally, Quadrant Capital Group LLC increased its position in shares of Duke Realty Corp. by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 6,365 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.
About Duke Realty Corp.
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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