According to Zacks, “The shares of Duke Realty underperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. However, its first-quarter and full-year 2017 funds from operations (FFO) per share estimate remained unchanged in the past 30 days. Duke Realty has a solid portfolio of industrial assets and is enhancing its portfolio-mix through continued divestiture. However, the disposition efforts have a near-term dilutive effect. Also, significant competition from developers, owners and operators of commercial real estate and rate hike add to its worries.”
A number of other brokerages have also issued reports on DRE. Bank of America Corp upgraded shares of Duke Realty Corp from a neutral rating to a buy rating and upped their target price for the stock from $28.00 to $30.00 in a research report on Wednesday, April 5th. Wells Fargo & Co lowered shares of Duke Realty Corp from an outperform rating to a market perform rating in a research report on Tuesday, December 13th. Barclays PLC dropped their price target on shares of Duke Realty Corp from $26.00 to $25.00 and set an equal weight rating for the company in a research note on Monday, January 23rd. JPMorgan Chase & Co. raised shares of Duke Realty Corp from a neutral rating to an overweight rating and set a $28.00 price target for the company in a research note on Friday, December 16th. Finally, BMO Capital Markets reissued a hold rating and set a $28.00 price target on shares of Duke Realty Corp in a research note on Monday, March 20th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $28.58.
Shares of Duke Realty Corp (NYSE:DRE) traded up 0.04% during trading on Thursday, hitting $27.62. 277,694 shares of the stock traded hands. Duke Realty Corp has a one year low of $21.11 and a one year high of $28.99. The company has a market cap of $9.82 billion, a PE ratio of 31.28 and a beta of 0.93. The firm has a 50 day moving average price of $26.35 and a 200-day moving average price of $25.78.
Duke Realty Corp (NYSE:DRE) last announced its earnings results on Wednesday, January 25th. 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. Duke Realty Corp had a net margin of 34.60% and a return on equity of 9.27%. The company had revenue of $204.26 million for the quarter, compared to analyst estimates of $205.04 million. During the same period in the prior year, the business earned $0.29 earnings per share. Duke Realty Corp’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Duke Realty Corp will post $0.30 earnings per share for the current fiscal year.
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In other news, Director Charles R. Eitel sold 5,246 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $25.52, for a total value of $133,877.92. Following the completion of the transaction, the director now owns 4,949 shares in the company, valued at $126,298.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DRE. Pacad Investment Ltd. acquired a new position in shares of Duke Realty Corp during the fourth quarter valued at approximately $130,000. Advisor Group Inc. boosted 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 valued at $139,000 after buying an additional 1,534 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Duke Realty Corp during the fourth quarter valued at approximately $141,000. Quadrant Capital Group LLC boosted its position in shares of Duke Realty Corp by 10.4% in the first quarter. Quadrant Capital Group LLC now owns 7,020 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 660 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Duke Realty Corp during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 93.13% of the company’s stock.
Duke Realty Corp 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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