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Duke Realty upgraded to Outperform from Market Perform at BMO Capital » 05:49
11/11/20
11/11
05:49
11/11/20
05:49
DRE

Duke Realty

$39.56 /

+0.9 (+2.33%)

BMO Capital analyst John…

BMO Capital analyst John Kim upgraded Duke Realty to Outperform from Market Perform with a price target of $47, up from $39. The company is an "enviable position with attractive incremental cost of capital," which it can invest in developments at attractive spreads, Kim tells investors in a research note. The analyst believes Duke will enter an accelerated earnings growth phase over the next three years, driven by increased e-commerce demand and shift in supply chain strategies.

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DRE Duke Realty
$39.56 /

+0.9 (+2.33%)

DRE Duke Realty
$39.56 /

+0.9 (+2.33%)

10/16/20
Fly Intel: Top five analyst initiations
10/16/20 UBS
Duke Realty initiated with a Buy at UBS
09/29/20 Goldman Sachs
Duke Realty resumed with a Neutral at Goldman Sachs
08/24/20 Truist
Truist raises price targets on select REITs
DRE Duke Realty
$39.56 /

+0.9 (+2.33%)

Over a month ago
Earnings
Duke Realty reports Q3 EPS 19c, consensus 14c » 16:09
10/28/20
10/28
16:09
10/28/20
16:09
DRE

Duke Realty

$37.25 /

-0.495 (-1.31%)

Reports Q3 revenue…

Reports Q3 revenue $262.03M, consensus $229.69M. Reports Q3 core FFO 40c, consensus 39c. Jim Connor, chairman and CEO, said, "We delivered excellent operating results for the third quarter of 2020, putting ourselves on pace to finish the year at levels exceeding our initial, pre-pandemic, 2020 financial performance expectations. Leases executed during the quarter totaled 7.3 million square feet and drove the highest total and in-service portfolio occupancy levels since early 2017. Second generation leases executed during the quarter resulted in rental rate growth of 32.1 percent on a net effective basis and 17.2 percent on a cash basis. Growth in same property net operating income was very strong at 5.0 percent and 5.5 percent for the three and nine months ended September 30, 2020, respectively, compared to the corresponding periods in 2019."

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DRE Duke Realty
$37.25 /

-0.495 (-1.31%)

DRE Duke Realty
$37.25 /

-0.495 (-1.31%)

10/16/20
Fly Intel: Top five analyst initiations
10/16/20 UBS
Duke Realty initiated with a Buy at UBS
09/29/20 Goldman Sachs
Duke Realty resumed with a Neutral at Goldman Sachs
08/24/20 Truist
Truist raises price targets on select REITs
DRE Duke Realty
$37.25 /

-0.495 (-1.31%)

Initiation
Fly Intel: Top five analyst initiations » 09:53
10/16/20
10/16
09:53
10/16/20
09:53
KMB

Kimberly-Clark

$153.63 /

-0.7 (-0.45%)

, TMUS

T-Mobile

$115.90 /

+0.62 (+0.54%)

, SRC

Spirit Realty

$32.61 /

-0.59 (-1.78%)

, DRE

Duke Realty

$39.02 /

+0.06 (+0.15%)

, PSTV

Plus Therapeutics

$2.67 /

+0.13 (+5.12%)

Catch up on today's…

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kimberly-Clark (KMB) initiated with a Buy at Berenberg. 2. T-Mobile (TMUS) resumed with an Outperform at Evercore ISI. 3. Spirit Realty (SRC) initiated with a Sell at UBS. 4. Duke Realty (DRE) initiated with a Buy at UBS. 5. Plus Therapeutics (PSTV) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

SRC Spirit Realty
$32.61 /

-0.59 (-1.78%)

PSTV Plus Therapeutics
$2.67 /

+0.13 (+5.12%)

KMB Kimberly-Clark
$153.63 /

-0.7 (-0.45%)

DRE Duke Realty
$39.02 /

+0.06 (+0.15%)

KMB Kimberly-Clark
$153.63 /

-0.7 (-0.45%)

10/16/20
Fly Intel: Top five analyst downgrades
10/16/20 JPMorgan
Kimberly-Clark downgraded to Neutral on valuation at JPMorgan
10/16/20 Berenberg
Kimberly-Clark initiated with a Buy at Berenberg
10/16/20 JPMorgan
Kimberly-Clark downgraded to Neutral from Overweight at JPMorgan
TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

10/16/20 Evercore ISI
T-Mobile resumed with an Outperform at Evercore ISI
10/14/20 Jefferies
Apple price target raised to $140 from $135 at Jefferies
10/14/20 Citi
T-Mobile price target raised to $142 from $130 at Citi
08/31/20
Fly Intel: Top five analyst initiations
SRC Spirit Realty
$32.61 /

-0.59 (-1.78%)

10/16/20 UBS
Spirit Realty initiated with a Sell at UBS
08/24/20 BofA
Spirit Realty, Vereit upgraded to Buy from Neutral at BofA
08/24/20 BofA
Spirit Realty upgraded to Buy from Neutral at BofA
06/30/20 Berenberg
Spirit Realty initiated with a Buy at Berenberg
DRE Duke Realty
$39.02 /

+0.06 (+0.15%)

10/16/20 UBS
Duke Realty initiated with a Buy at UBS
09/29/20 Goldman Sachs
Duke Realty resumed with a Neutral at Goldman Sachs
08/24/20 Truist
Truist raises price targets on select REITs
08/04/20 Mizuho
Duke Realty price target raised to $43 from $40 at Mizuho
PSTV Plus Therapeutics
$2.67 /

+0.13 (+5.12%)

10/16/20 Maxim
Plus Therapeutics initiated with a Buy at Maxim
TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

SRC Spirit Realty
$32.61 /

-0.59 (-1.78%)

PSTV Plus Therapeutics
$2.67 /

+0.13 (+5.12%)

KMB Kimberly-Clark
$153.63 /

-0.7 (-0.45%)

DRE Duke Realty
$39.02 /

+0.06 (+0.15%)

  • 24
    Jun
  • 09
    Jun
TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

SRC Spirit Realty
$32.61 /

-0.59 (-1.78%)

KMB Kimberly-Clark
$153.63 /

-0.7 (-0.45%)

TMUS T-Mobile
$115.90 /

+0.62 (+0.54%)

KMB Kimberly-Clark
$153.63 /

-0.7 (-0.45%)

Initiation
Duke Realty initiated with a Buy at UBS » 07:16
10/16/20
10/16
07:16
10/16/20
07:16
DRE

Duke Realty

$38.96 /

+0.34 (+0.88%)

UBS analyst Brent Dilts…

UBS analyst Brent Dilts initiated coverage of Duke Realty with a Buy rating and $48 price target. "Rapidly" accelerating ecommerce volumes and and restructuring of supply chain could drive upside of as much as 11% to the REIT's consensus net operating income estimates, the analyst tells investors in a research note. Dilts adds that he anticipates strong rent growth for Duke Realty in the coming 5 years.

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DRE Duke Realty
$38.96 /

+0.34 (+0.88%)

DRE Duke Realty
$38.96 /

+0.34 (+0.88%)

09/29/20 Goldman Sachs
Duke Realty resumed with a Neutral at Goldman Sachs
08/24/20 Truist
Truist raises price targets on select REITs
08/04/20 Mizuho
Duke Realty price target raised to $43 from $40 at Mizuho
06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
DRE Duke Realty
$38.96 /

+0.34 (+0.88%)

Initiation
Duke Realty resumed with a Neutral at Goldman Sachs » 05:02
09/29/20
09/29
05:02
09/29/20
05:02
DRE

Duke Realty

$36.92 /

+0.7 (+1.93%)

Goldman Sachs analyst…

Goldman Sachs analyst Caitlin Burrows resumed coverage of Duke Realty with a Neutral rating and $40 price target. The analyst resumed coverage of four industrial real estate investment trusts with a positive fundamental outlook, but also recognizes the sector's current valuation premium. Industry benefits from "secular demand tailwinds" such as e-commerce growth and increasing inventory levels are "offset somewhat by cyclical headwinds" such as weaker industrial production and international trade, Burrows tells investors in a research note.

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DRE Duke Realty
$36.92 /

+0.7 (+1.93%)

DRE Duke Realty
$36.92 /

+0.7 (+1.93%)

08/24/20 Truist
Truist raises price targets on select REITs
08/04/20 Mizuho
Duke Realty price target raised to $43 from $40 at Mizuho
06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
DRE Duke Realty
$36.92 /

+0.7 (+1.93%)

Over a quarter ago
Recommendations
Truist raises price targets on select REITs » 09:18
08/24/20
08/24
09:18
08/24/20
09:18
COLD

Americold Realty Trust

$38.72 /

-0.015 (-0.04%)

, DRE

Duke Realty

$38.15 /

+0.05 (+0.13%)

, EGP

EastGroup Properties

$133.31 /

-0.35 (-0.26%)

, NSA

National Storage

$33.88 /

+0.75 (+2.26%)

, PSA

Public Storage

$206.48 /

+3.11 (+1.53%)

Truist analyst Ki Bin Kim…

Truist analyst Ki Bin Kim raised his price target on Buy-rated Americold Realty Trust (COLD) to $42 from $38, Buy-rated Duke Realty (DRE) to $41 from $38, Hold-rated EastGroup Properties (EGP) to $130 from $117, Hold-rated National Storage (NSA) to $32 from $27, and Hold-rated Public Storage (PSA) to $205 from $195. The analyst is updating his valuation model based on these companies' Q2 results and occupancy levels as well as their adjusted same-store revenue growth and expense assumptions.

ShowHide Related Items >><<
PSA Public Storage
$206.48 /

+3.11 (+1.53%)

NSA National Storage
$33.88 /

+0.75 (+2.26%)

EGP EastGroup Properties
$133.31 /

-0.35 (-0.26%)

DRE Duke Realty
$38.15 /

+0.05 (+0.13%)

COLD Americold Realty Trust
$38.72 /

-0.015 (-0.04%)

COLD Americold Realty Trust
$38.72 /

-0.015 (-0.04%)

08/13/20 Berenberg
Americold Realty Trust upgraded to Buy from Hold at Berenberg
05/11/20 BofA
Americold Realty Trust upgraded to Buy from Neutral at BofA
02/24/20 BofA
Americold Realty Trust downgraded to Neutral from Buy at BofA
02/24/20 BofA
Americold Realty Trust downgraded to Neutral from Buy at BofA
DRE Duke Realty
$38.15 /

+0.05 (+0.13%)

08/04/20 Mizuho
Duke Realty price target raised to $43 from $40 at Mizuho
06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
EGP EastGroup Properties
$133.31 /

-0.35 (-0.26%)

08/04/20 Mizuho
EastGroup Properties price target raised to $138 from $105 at Mizuho
03/27/20 RBC Capital
EastGroup Properties initiated with a Sector Perform at RBC Capital
10/07/19 Morgan Stanley
Duke Realty downgraded to Equal Weight on supply risk at Morgan Stanley
NSA National Storage
$33.88 /

+0.75 (+2.26%)

04/28/20 Morgan Stanley
Morgan Stanley downgrades Public Storage to Underweight amid record job losses
04/14/20 Baird
National Storage downgraded to Neutral at Baird
04/14/20 Baird
National Storage downgraded to Neutral from Outperform at Baird
03/31/20 Truist
National Storage upgraded to Hold from Sell at SunTrust
PSA Public Storage
$206.48 /

+3.11 (+1.53%)

06/26/20 Goldman Sachs
Public Storage initiated with a Neutral at Goldman Sachs
06/19/20
Fly Intel: Top five analyst downgrades
06/19/20
Public Storage cut to Hold at Argus on valuation, low growth
06/19/20 Argus
Public Storage downgraded to Hold from Buy at Argus
PSA Public Storage
$206.48 /

+3.11 (+1.53%)

NSA National Storage
$33.88 /

+0.75 (+2.26%)

EGP EastGroup Properties
$133.31 /

-0.35 (-0.26%)

DRE Duke Realty
$38.15 /

+0.05 (+0.13%)

COLD Americold Realty Trust
$38.72 /

-0.015 (-0.04%)

COLD Americold Realty Trust
$38.72 /

-0.015 (-0.04%)

PSA Public Storage
$206.48 /

+3.11 (+1.53%)

Hot Stocks
Duke Realty announces July, August rent collection update » 16:20
08/20/20
08/20
16:20
08/20/20
16:20
DRE

Duke Realty

$38.09 /

+0.2 (+0.53%)

Duke Realty announced the…

Duke Realty announced the results of rent collection and previously deferred rent repayment activity for the months of July and August. As of August 20, the company noted collection of 97.3% of original contractual July rents with combined collections and deferrals totaling 99.9%. Duke Realty reported collection of 99.2% of original contractual August rents with combined collections and deferrals totaling 99.6%. Deferral agreements entered into required tenants to begin repaying deferred rents in July. Collection of 100% of previously deferred rents that were due in July and collection of over 99% of previously deferred rents that were due in August. Cash collections do not include any security deposit or letters of credit applications. The pace of rent collections has increased each month since the beginning of the pandemic.

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DRE Duke Realty
$38.09 /

+0.2 (+0.53%)

DRE Duke Realty
$38.09 /

+0.2 (+0.53%)

08/04/20 Mizuho
Duke Realty price target raised to $43 from $40 at Mizuho
06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
DRE Duke Realty
$38.09 /

+0.2 (+0.53%)

Recommendations
Duke Realty price target raised to $43 from $40 at Mizuho » 06:43
08/04/20
08/04
06:43
08/04/20
06:43
DRE

Duke Realty

$39.67 /

-0.51 (-1.27%)

Mizuho analyst Omotayo…

Mizuho analyst Omotayo Okusanya raised the firm's price target on Duke Realty to $43 from $40 and keeps a Buy rating on the shares. The analyst increased estimates for industrial real estate investment trusts post the Q2 reporting season. Fundamentals have continued to perform well, led by strong tenant demand, Okusanya tells investors in a research note.

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DRE Duke Realty
$39.67 /

-0.51 (-1.27%)

DRE Duke Realty
$39.67 /

-0.51 (-1.27%)

06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
01/07/20 BMO Capital
Duke Realty downgraded to Market Perform from Outperform at BMO Capital
DRE Duke Realty
$39.67 /

-0.51 (-1.27%)

Earnings
Duke Realty reports Q2 EPS 11c, consensus 12c » 16:21
07/29/20
07/29
16:21
07/29/20
16:21
DRE

Duke Realty

$40.20 /

+1.77 (+4.61%)

Reports Q2 FFO of 33c per…

Reports Q2 FFO of 33c per share, and Q2 core FFO of 38c per share. Reports Q2 revenue $238.51M, consensus $222.33M.

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DRE Duke Realty
$40.20 /

+1.77 (+4.61%)

DRE Duke Realty
$40.20 /

+1.77 (+4.61%)

06/19/20 Stifel
Rexford Industrial added to Select List at Stifel
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
01/07/20 BMO Capital
Duke Realty downgraded to Market Perform from Outperform at BMO Capital
DRE Duke Realty
$40.20 /

+1.77 (+4.61%)

Recommendations
Rexford Industrial added to Select List at Stifel » 07:40
06/19/20
06/19
07:40
06/19/20
07:40
REXR

Rexford Industrial

$41.88 /

-0.63 (-1.48%)

, DRE

Duke Realty

$36.56 /

-0.185 (-0.50%)

Stifel analyst John…

Stifel analyst John Guinee removed Duke Realty (DRE) from the Stifel Select List and added Rexford Industrial (REXR) in its place, noting that Rexford has underperformed nearly all other Industrial REITs he covers year-to-date. While Rexford has has been hurt by weak rent collections and concerns about the Southern California economy, he thinks that investors will "veer from a singular focus on rent collections" in a few quarters and shift focus to strategy, supply/demand, rental rate growth and value creation, Guinee said. Guinee has a Buy rating and $47 price target on Rexford shares.

ShowHide Related Items >><<
REXR Rexford Industrial
$41.88 /

-0.63 (-1.48%)

DRE Duke Realty
$36.56 /

-0.185 (-0.50%)

REXR Rexford Industrial
$41.88 /

-0.63 (-1.48%)

05/04/20 Capital One
Rexford Industrial downgraded to Equalweight from Overweight at Capital One
05/04/20 Capital One
Rexford Industrial downgraded to Equalweight from Overweight at Capital One
02/12/20 Stifel
Rexford has best lease dynamics among industrial REITs, says Stifel
08/07/19 Jefferies
Jefferies goes to Overweight from Underweight on smid-cap real estate sector
DRE Duke Realty
$36.56 /

-0.185 (-0.50%)

05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
05/20/20 BofA
Duke Realty upgraded to Buy from Neutral at BofA
01/07/20 BMO Capital
Duke Realty downgraded to Market Perform from Outperform at BMO Capital
01/06/20 BTIG
Duke Realty downgraded to Neutral from Buy at BTIG
REXR Rexford Industrial
$41.88 /

-0.63 (-1.48%)

DRE Duke Realty
$36.56 /

-0.185 (-0.50%)

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