Duke Realty (NYSE:DRE) Given “Hold” Rating at BMO Capital Markets

BMO Capital Markets reiterated their hold rating on shares of Duke Realty (NYSE:DRE) in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. They currently have a $34.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus lifted their target price on Duke Realty from $31.00 to $37.00 and gave the company a buy rating in a research report on Friday, May 1st. Robert W. Baird lifted their price objective on Duke Realty from $36.00 to $38.00 and gave the company an outperform rating in a research note on Thursday, May 7th. Citigroup dropped their price objective on Duke Realty from $42.00 to $37.00 and set a buy rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. dropped their price objective on Duke Realty from $38.00 to $35.00 and set an overweight rating for the company in a research note on Thursday, May 14th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $37.00 price objective on shares of Duke Realty in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Duke Realty has a consensus rating of Buy and an average target price of $36.55.

NYSE:DRE opened at $40.19 on Wednesday. Duke Realty has a 52 week low of $25.19 and a 52 week high of $40.84. The company has a quick ratio of 1.97, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $14.81 billion, a P/E ratio of 39.79, a P/E/G ratio of 6.18 and a beta of 0.64. The stock’s fifty day moving average is $36.10 and its two-hundred day moving average is $34.60.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.26). Duke Realty had a net margin of 39.78% and a return on equity of 7.38%. The business had revenue of $226.37 million during the quarter, compared to analysts’ expectations of $224.54 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Duke Realty’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Duke Realty will post 1.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.94 annualized dividend and a yield of 2.34%. Duke Realty’s payout ratio is 65.28%.

In related news, CFO Mark A. Denien sold 4,881 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $37.16, for a total transaction of $181,377.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Several large investors have recently added to or reduced their stakes in DRE. Quadrant Capital Group LLC boosted its position in shares of Duke Realty by 6.3% during the 4th quarter. Quadrant Capital Group LLC now owns 6,104 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 363 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Duke Realty by 64.0% during the 4th quarter. First Republic Investment Management Inc. now owns 9,722 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 3,793 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Duke Realty by 28.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 18,431 shares of the real estate investment trust’s stock worth $639,000 after acquiring an additional 4,098 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Duke Realty by 355.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,999 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Duke Realty by 11.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,488 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 1,273 shares in the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.

Duke Realty Company Profile

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.

Further Reading: Market Capitalization and Individual Investors

Analyst Recommendations for Duke Realty (NYSE:DRE)

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