Today: Duke Realty Corp. (DRE) Upgrade to “Outperform” by Robert W. Baird

Today: Duke Realty Corp. (DRE) Upgrade to “Outperform” by Robert W. Baird

Duke Realty Corp. (NYSE:DRE) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Monday. The brokerage currently has a $30.00 target price on the real estate investment trust’s stock. Robert W. Baird’s price objective would indicate a potential upside of 20.10% from the stock’s current price.

DRE has been the subject of a number of other research reports. Stifel Nicolaus raised their price target 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. Royal Bank Of Canada raised their price target on shares of Duke Realty Corp. from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. Mizuho started coverage on shares of Duke Realty Corp. in a research report on Wednesday, September 28th. They set a “neutral” rating and a $29.00 price objective for the company. BTIG Research started coverage on shares of Duke Realty Corp. in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $28.00 price objective (down previously from $30.00) on shares of Duke Realty Corp. in a research report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.15.

Duke Realty Corp. (NYSE:DRE) opened at 24.98 on Monday. The company has a market cap of $8.86 billion, a P/E ratio of 30.39 and a beta of 1.02. The company has a 50-day moving average of $25.07 and a 200-day moving average of $26.08. Duke Realty Corp. has a 52 week low of $18.52 and a 52 week high of $28.99.

Duke Realty Corp. (NYSE:DRE) last announced its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The business earned $226.19 million during the quarter, compared to the consensus estimate of $201.81 million. Duke Realty Corp. had a net margin of 32.10% and a return on equity of 8.46%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. On average, equities research analysts predict that Duke Realty Corp. will post $1.20 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Duke Realty Corp.’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, November 14th. Duke Realty Corp.’s dividend payout ratio (DPR) is presently 92.68%.

Several large investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Duke Realty Corp. during the second quarter worth $13,878,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Duke Realty Corp. by 121.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 908,710 shares of the real estate investment trust’s stock worth $24,226,000 after buying an additional 497,572 shares during the last quarter. Sit Investment Associates Inc. purchased a new stake in shares of Duke Realty Corp. during the second quarter worth $12,067,000. Duff & Phelps Investment Management Co. raised its stake in shares of Duke Realty Corp. by 36.3% in the second quarter. Duff & Phelps Investment Management Co. now owns 2,371,635 shares of the real estate investment trust’s stock worth $63,227,000 after buying an additional 631,800 shares during the last quarter. Finally, Standard Life Investments LTD raised its stake in shares of Duke Realty Corp. by 172.1% in the second quarter. Standard Life Investments LTD now owns 616,213 shares of the real estate investment trust’s stock worth $16,419,000 after buying an additional 389,725 shares during the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.

About Duke Realty Corp.

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