Scotiabank Begins Coverage on Duke Realty (DRE)

Scotiabank assumed coverage on shares of Duke Realty (NYSE:DRE) in a research note released on Tuesday, The Fly reports. The firm issued a sector perform rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on DRE. Citigroup upped their target price on Duke Realty from $30.50 to $33.00 and gave the stock a buy rating in a report on Thursday, August 2nd. SunTrust Banks set a $28.00 target price on Duke Realty and gave the stock a hold rating in a report on Tuesday, August 7th. Zacks Investment Research lowered Duke Realty from a buy rating to a sell rating in a report on Monday, July 16th. Royal Bank of Canada restated a hold rating and set a $30.00 target price on shares of Duke Realty in a report on Monday, July 30th. Finally, BMO Capital Markets set a $29.00 target price on Duke Realty and gave the stock a hold rating in a report on Wednesday, July 25th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $29.78.

Shares of NYSE DRE opened at $27.55 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.80 billion, a P/E ratio of 22.12, a PEG ratio of 4.13 and a beta of 0.57. Duke Realty has a 52-week low of $24.30 and a 52-week high of $29.58.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $192.09 million during the quarter, compared to analyst estimates of $195.04 million. Duke Realty had a return on equity of 7.87% and a net margin of 72.53%. Duke Realty’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Analysts anticipate that Duke Realty will post 1.33 EPS for the current year.

In other news, EVP Peter D. Harrington sold 16,500 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $28.98, for a total transaction of $478,170.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bayesian Capital Management LP acquired a new position in shares of Duke Realty in the 1st quarter valued at $289,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Duke Realty in the 1st quarter valued at $289,000. The Manufacturers Life Insurance Company increased its position in shares of Duke Realty by 10.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 373,611 shares of the real estate investment trust’s stock valued at $9,893,000 after acquiring an additional 35,368 shares during the period. Natixis acquired a new position in shares of Duke Realty in the 1st quarter valued at $2,210,000. Finally, LPL Financial LLC increased its position in shares of Duke Realty by 26.2% in the 1st quarter. LPL Financial LLC now owns 39,665 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 8,241 shares during the period. Hedge funds and other institutional investors own 93.29% of the company’s stock.

About Duke Realty

Duke Realty Corporation owns and operates approximately 150 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.

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