Robert W. Baird upgraded shares of Duke Realty Corp. (NYSE:DRE) from a neutral rating to an outperform rating in a research note released on Monday morning. The brokerage currently has $30.00 target price on the real estate investment trust’s stock.

DRE has been the topic of several other reports. RBC Capital Markets restated an outperform rating and set a $28.00 price objective (down from $30.00) on shares of Duke Realty Corp. in a research note on Tuesday, November 22nd. Royal Bank Of Canada lowered their price objective on shares of Duke Realty Corp. from $30.00 to $28.00 and set an outperform rating on the stock in a research note on Tuesday, November 22nd. Zacks Investment Research upgraded shares of Duke Realty Corp. from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research note on Monday, October 31st. Mizuho lowered their price objective on shares of Duke Realty Corp. from $29.00 to $27.00 and set a neutral rating on the stock in a research note on Friday, October 28th. Finally, Morgan Stanley restated a buy rating and set a $31.00 price objective on shares of Duke Realty Corp. in a research note on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Duke Realty Corp. currently has an average rating of Hold and an average price target of $27.15.

Duke Realty Corp. (NYSE:DRE) opened at 25.43 on Monday. The company has a 50-day moving average of $25.08 and a 200 day moving average of $26.14. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 30.94 and a beta of 1.02. Duke Realty Corp. has a 52-week low of $18.52 and a 52-week high of $28.99.

Duke Realty Corp. (NYSE:DRE) last issued its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. Duke Realty Corp. had a net margin of 32.10% and a return on equity of 8.46%. The firm had revenue of $226.19 million for the quarter, compared to analyst estimates of $201.81 million. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Duke Realty Corp. will post $1.20 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were issued a $0.19 dividend. The ex-dividend date was Monday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 2.99%. This is an increase from Duke Realty Corp.’s previous quarterly dividend of $0.18. Duke Realty Corp.’s payout ratio is currently 92.68%.

A number of hedge funds have recently bought and sold shares of DRE. Wellington Management Group LLP increased its stake in Duke Realty Corp. by 9.5% in the first quarter. Wellington Management Group LLP now owns 340,911 shares of the real estate investment trust’s stock worth $7,684,000 after buying an additional 29,507 shares in the last quarter. Arizona State Retirement System increased its stake in Duke Realty Corp. by 3.6% in the first quarter. Arizona State Retirement System now owns 176,363 shares of the real estate investment trust’s stock worth $3,975,000 after buying an additional 6,200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Duke Realty Corp. by 14.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,723 shares of the real estate investment trust’s stock worth $580,000 after buying an additional 3,314 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Duke Realty Corp. by 226.4% in the second quarter. BNP Paribas Arbitrage SA now owns 203,117 shares of the real estate investment trust’s stock worth $5,415,000 after buying an additional 140,888 shares in the last quarter. Finally, Creative Planning increased its stake in Duke Realty Corp. by 35.2% in the second quarter. Creative Planning now owns 7,185 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 1,870 shares in the last quarter. 94.86% of the stock is owned by hedge funds and other institutional investors.

About Duke Realty Corp.

Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.

5 Day Chart for NYSE:DRE

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