ValuEngine Lowers Duke Realty (DRE) to Hold

ValuEngine downgraded shares of Duke Realty (NYSE:DRE) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other brokerages also recently weighed in on DRE. JPMorgan Chase downgraded shares of Duke Realty from a neutral rating to an underweight rating and set a $29.00 price target on the stock. in a report on Friday, December 15th. Morgan Stanley reissued an overweight rating and issued a $31.00 price target on shares of Duke Realty in a report on Thursday, December 14th. Citigroup raised shares of Duke Realty from a neutral rating to a buy rating and set a $32.00 price target on the stock in a report on Thursday, December 14th. DA Davidson reissued a neutral rating on shares of Duke Realty in a report on Thursday, February 1st. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $31.00 price target (up from $29.00) on shares of Duke Realty in a report on Wednesday, January 3rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Duke Realty currently has a consensus rating of Hold and an average target price of $29.82.

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NYSE DRE opened at $25.72 on Thursday. Duke Realty has a 1 year low of $24.30 and a 1 year high of $30.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.43 and a quick ratio of 4.43. The firm has a market capitalization of $9,063.97, a PE ratio of 20.74, a PEG ratio of 4.58 and a beta of 0.72.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). Duke Realty had a return on equity of 6.28% and a net margin of 197.59%. The firm had revenue of $179.39 million during the quarter, compared to the consensus estimate of $175.00 million. analysts forecast that Duke Realty will post 1.27 earnings per share for the current fiscal year.

In other Duke Realty news, Director Charles R. Eitel sold 5,242 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $24.96, for a total transaction of $130,840.32. Following the sale, the director now directly owns 4,927 shares of the company’s stock, valued at $122,977.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRE. Delpha Capital Management LLC purchased a new stake in Duke Realty during the fourth quarter valued at about $121,000. Itau Unibanco Holding S.A. purchased a new stake in Duke Realty during the fourth quarter valued at about $132,000. American Investment Services Inc. purchased a new stake in Duke Realty during the fourth quarter valued at about $233,000. Conning Inc. purchased a new stake in Duke Realty during the fourth quarter valued at about $262,000. Finally, Pinebridge Investments L.P. lifted its holdings in Duke Realty by 373.3% during the fourth quarter. Pinebridge Investments L.P. now owns 13,324 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 10,509 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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About Duke Realty

Duke Realty Corporation owns and operates approximately 146 million rentable square feet of industrial assets in 21 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. More information about Duke Realty Corporation is available at www.dukerealty.com.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Duke Realty (NYSE:DRE)

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