Duke Realty (DRE) Upgraded to “Buy” by Citigroup

Citigroup upgraded shares of Duke Realty (NYSE:DRE) from a neutral rating to a buy rating in a report released on Thursday. The brokerage currently has $32.00 target price on the real estate investment trust’s stock.

DRE has been the subject of several other reports. J P Morgan Chase & Co downgraded Duke Realty from an overweight rating to a neutral rating and set a $30.00 price objective for the company. in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Duke Realty from a buy rating to a hold rating in a research note on Tuesday, October 10th. Stifel Nicolaus reissued a buy rating and issued a $31.00 price objective on shares of Duke Realty in a research note on Thursday, September 21st. Robert W. Baird reduced their price objective on Duke Realty from $32.00 to $31.00 and set an outperform rating for the company in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded Duke Realty from a hold rating to a buy rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $29.67.

Duke Realty (NYSE:DRE) traded up $0.01 during midday trading on Thursday, reaching $27.82. The company had a trading volume of 5,934,700 shares, compared to its average volume of 2,687,282. Duke Realty has a 1 year low of $23.93 and a 1 year high of $30.14. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9,872.23, a P/E ratio of 22.18, a P/E/G ratio of 5.11 and a beta of 0.90.

Duke Realty (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The firm had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. research analysts predict that Duke Realty will post 1.24 EPS for the current fiscal year.

The business also recently announced a special dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were issued a $0.85 dividend. This is a boost from Duke Realty’s previous special dividend of $0.20. This represents a yield of 2.74%. The ex-dividend date was Thursday, November 30th. Duke Realty’s dividend payout ratio is presently 19.18%.

Large investors have recently modified their holdings of the business. Old Mutual Global Investors UK Ltd. purchased a new stake in Duke Realty in the 2nd quarter valued at $7,968,000. Virtu KCG Holdings LLC purchased a new position in shares of Duke Realty during the 2nd quarter worth $815,000. Prudential Financial Inc. grew its holdings in shares of Duke Realty by 18.1% during the 2nd quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock worth $75,141,000 after purchasing an additional 411,563 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Duke Realty by 17.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,663 shares of the real estate investment trust’s stock worth $3,205,000 after purchasing an additional 16,758 shares during the period. Finally, Boston Partners purchased a new position in shares of Duke Realty during the 3rd quarter worth $93,065,000. Institutional investors own 94.09% of the company’s stock.

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Duke Realty 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.

Analyst Recommendations for Duke Realty (NYSE:DRE)

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