Duke Realty (DRE) Upgraded to “Buy” at SunTrust Banks

SunTrust Banks upgraded shares of Duke Realty (NYSE:DRE) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat Ratings reports. SunTrust Banks also issued estimates for Duke Realty’s FY2022 earnings at $1.65 EPS and FY2023 earnings at $1.74 EPS.

Several other research analysts have also recently commented on DRE. Zacks Investment Research upgraded shares of Duke Realty from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Wednesday, October 3rd. Barclays reiterated a hold rating and issued a $26.00 target price on shares of Duke Realty in a report on Sunday, October 14th. Scotiabank initiated coverage on shares of Duke Realty in a report on Tuesday, October 16th. They issued a sector perform rating for the company. BMO Capital Markets reiterated a hold rating and issued a $30.00 target price on shares of Duke Realty in a report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Duke Realty from a hold rating to a buy rating in a report on Wednesday, October 24th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $30.33.

Shares of DRE opened at $28.42 on Tuesday. Duke Realty has a one year low of $24.30 and a one year high of $29.48. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.16 and a beta of 0.67. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.56.

Duke Realty (NYSE:DRE) last announced its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Duke Realty had a net margin of 56.94% and a return on equity of 8.01%. The company had revenue of $196.91 million during the quarter, compared to analysts’ expectations of $197.78 million. As a group, analysts anticipate that Duke Realty will post 1.34 earnings per share for the current fiscal year.

In related news, Director Melanie R. Sabelhaus sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $27.98, for a total transaction of $69,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. bought a new position in Duke Realty during the third quarter valued at approximately $103,000. ClariVest Asset Management LLC bought a new position in Duke Realty during the third quarter valued at approximately $162,000. Laurion Capital Management LP bought a new position in Duke Realty during the second quarter valued at approximately $202,000. Marshall Wace North America L.P. bought a new position in Duke Realty during the third quarter valued at approximately $204,000. Finally, First Hawaiian Bank bought a new position in Duke Realty during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Duke Realty Company Profile

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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Analyst Recommendations for Duke Realty (NYSE:DRE)

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