Wells Fargo & Company Cuts Duke Realty (NYSE:DRE) Price Target to $56.00

Duke Realty (NYSE:DREGet Rating) had its price target decreased by equities research analysts at Wells Fargo & Company from $59.00 to $56.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.50% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Truist Financial lowered their target price on Duke Realty from $63.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, May 31st. StockNews.com started coverage on shares of Duke Realty in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho lowered their price target on shares of Duke Realty from $65.00 to $58.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Finally, BMO Capital Markets upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $68.00 to $65.00 in a report on Monday, May 16th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $59.60.

Shares of NYSE DRE traded up $0.32 during midday trading on Monday, reaching $53.59. 5,440 shares of the company traded hands, compared to its average volume of 2,339,770. Duke Realty has a 12 month low of $47.03 and a 12 month high of $66.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50-day simple moving average is $55.58 and its 200-day simple moving average is $57.27. The firm has a market cap of $20.60 billion, a PE ratio of 19.94, a PEG ratio of 3.60 and a beta of 0.74.

Duke Realty (NYSE:DREGet Rating) last announced its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.19 by $0.46. The business had revenue of $275.20 million for the quarter, compared to the consensus estimate of $266.97 million. Duke Realty had a return on equity of 17.47% and a net margin of 93.39%. Duke Realty’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. On average, equities research analysts expect that Duke Realty will post 1.91 EPS for the current year.

A number of hedge funds have recently made changes to their positions in DRE. Schroder Investment Management Group raised its holdings in shares of Duke Realty by 27.9% during the third quarter. Schroder Investment Management Group now owns 42,891 shares of the real estate investment trust’s stock worth $2,053,000 after acquiring an additional 9,363 shares during the period. Natixis lifted its holdings in shares of Duke Realty by 107.7% in the third quarter. Natixis now owns 123,840 shares of the real estate investment trust’s stock valued at $5,928,000 after purchasing an additional 64,210 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Duke Realty during the third quarter worth about $200,000. Franklin Resources Inc. grew its holdings in shares of Duke Realty by 143.5% during the third quarter. Franklin Resources Inc. now owns 38,395 shares of the real estate investment trust’s stock worth $1,838,000 after buying an additional 22,626 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in Duke Realty by 7.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,262,404 shares of the real estate investment trust’s stock valued at $60,346,000 after buying an additional 92,776 shares during the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.

About Duke Realty (Get Rating)

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Duke Realty (NYSE:DRE)

Want More Great Investing Ideas?

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.