Robert W. Baird Lowers Duke Realty Corporation (DRE) Price Target to $31.00
Duke Realty Corporation (NYSE:DRE) had its price target decreased by Robert W. Baird from $32.00 to $31.00 in a note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price target suggests a potential upside of 9.23% from the stock’s current price.
DRE has been the subject of several other reports. Zacks Investment Research upgraded shares of Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Monday. BMO Capital Markets set a $30.00 target price on shares of Duke Realty Corporation and gave the company a “hold” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Duke Realty Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Barclays PLC decreased their target price on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Finally, Morgan Stanley upped their target price on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.55.
Shares of Duke Realty Corporation (NYSE:DRE) traded down 0.56% during trading on Tuesday, reaching $28.22. 206,797 shares of the company’s stock traded hands. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 6.95 and a beta of 0.93. The stock has a 50-day moving average of $29.07 and a 200-day moving average of $28.59. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $30.14.
Duke Realty Corporation (NYSE:DRE) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Duke Realty Corporation had a net margin of 178.66% and a return on equity of 6.36%. The company had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Duke Realty Corporation’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
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In related news, EVP Peter D. Harrington sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of DRE. Bessemer Group Inc. raised its holdings in Duke Realty Corporation by 4,741.6% in the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 3,651 shares in the last quarter. First Personal Financial Services raised its holdings in Duke Realty Corporation by 1.2% in the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 46 shares in the last quarter. Advisor Group Inc. raised its holdings in Duke Realty Corporation by 0.3% in the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 12 shares in the last quarter. Toronto Dominion Bank raised its holdings in Duke Realty Corporation by 12.6% in the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 488 shares in the last quarter. Finally, Fiduciary Trust Co. acquired a new stake in Duke Realty Corporation in the second quarter valued at $201,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.
About Duke Realty Corporation
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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