Royal Bank of Canada Lowers Duke Realty (DRE) to Sector Perform

Royal Bank of Canada cut shares of Duke Realty (NYSE:DRE) from an outperform rating to a sector perform rating in a research report report published on Wednesday, January 3rd, Marketbeat reports. The brokerage currently has $31.00 price target on the real estate investment trust’s stock, up from their prior price target of $29.00.

Several other research firms also recently weighed in on DRE. Zacks Investment Research downgraded Duke Realty from a buy rating to a hold rating in a research report on Tuesday, October 10th. Stifel Nicolaus reaffirmed a buy rating and issued a $31.00 price target on shares of Duke Realty in a report on Thursday, September 21st. Robert W. Baird cut their price target on Duke Realty from $32.00 to $31.00 and set an outperform rating for the company in a report on Tuesday, October 31st. BMO Capital Markets began coverage on Duke Realty in a research note on Monday, September 11th. They set a market perform rating and a $30.00 target price for the company. Finally, Citigroup raised Duke Realty from a neutral rating to a buy rating and set a $32.00 target price for the company in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $29.75.

Duke Realty (DRE) opened at $25.71 on Wednesday. The firm has a market capitalization of $9,127.89, a PE ratio of 20.50, a PEG ratio of 4.66 and a beta of 0.90. Duke Realty has a 1-year low of $23.93 and a 1-year high of $30.14. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.45.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $169.61 million for the quarter, compared to analyst estimates of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. Duke Realty’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. sell-side analysts anticipate that Duke Realty will post 1.24 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in DRE. BB&T Securities LLC boosted its holdings in Duke Realty by 1.6% in the second quarter. BB&T Securities LLC now owns 7,828 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 125 shares during the period. Pacer Advisors Inc. lifted its holdings in Duke Realty by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 8,421 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 645 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Duke Realty by 20.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 34,215 shares of the real estate investment trust’s stock worth $956,000 after buying an additional 5,723 shares during the last quarter. Swiss National Bank lifted its holdings in Duke Realty by 3.1% during the 2nd quarter. Swiss National Bank now owns 1,295,489 shares of the real estate investment trust’s stock worth $36,209,000 after buying an additional 38,700 shares during the last quarter. Finally, Cipher Capital LP purchased a new stake in Duke Realty during the 2nd quarter worth about $778,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

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About Duke Realty

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.

Analyst Recommendations for Duke Realty (NYSE:DRE)

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