Duke Realty (NYSE:DRE) Making Right Long-term Moves

Moving its strategy from over reliance upon suburban office space, Duke Realty (NYSE:DRE) has made recent acquisitions which will increase its exposure to industrial properties.

Barclays (NYSE:BCS) said, "Duke Realty announced two transactions that fit its strategy of growing its industrial portfolio and trimming its suburban office exposure...We consider the announcement a positive step toward meeting longer-term goals, although the near-term earnings impact should be minimal...We are maintaining our FY2010 FFO estimate of $1.23 per share and increasing our 2011 estimate by a penny, to $1.12 per share, to account for greater acquisition volume."

Barclays maintains an "Equalweight" on Duke Realty, which closed Tuesday at $11.90, up $0.19, or 1.62 percent. Barclays has a price target of $13 on them.