Zacks: Brokerages Anticipate Duke Realty Co. (DRE) Will Announce Earnings of $0.30 Per Share

Wall Street brokerages predict that Duke Realty Co. (NYSE:DRE) will announce $0.30 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Duke Realty’s earnings. The highest EPS estimate is $0.30 and the lowest is $0.28. Duke Realty reported earnings of $0.32 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Duke Realty will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.24 to $1.29. For the next year, analysts anticipate that the firm will post earnings of $1.36 per share, with EPS estimates ranging from $1.33 to $1.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Duke Realty.

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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 analysts’ consensus estimates of $0.30 by ($0.13). Duke Realty had a net margin of 197.59% and a return on equity of 6.28%. The firm had revenue of $179.39 million during the quarter, compared to analyst estimates of $175.00 million.

A number of research firms recently issued reports on DRE. JPMorgan Chase lowered shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research note on Friday, December 15th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 target price on shares of Duke Realty in a research note on Thursday, December 14th. Citigroup upgraded shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Thursday, December 14th. DA Davidson reiterated a “neutral” rating on shares of Duke Realty in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 target price (up from $29.00) on shares of Duke Realty in a research note on Wednesday, January 3rd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.82.

In other Duke Realty news, Director Charles R. Eitel sold 5,242 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $24.96, for a total value of $130,840.32. Following the completion of the sale, the director now directly owns 4,927 shares of the company’s stock, valued at approximately $122,977.92. The sale 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 institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB boosted its holdings in Duke Realty by 8.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 106,152 shares of the real estate investment trust’s stock valued at $2,888,000 after purchasing an additional 8,136 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Duke Realty by 74.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 380,039 shares of the real estate investment trust’s stock valued at $10,341,000 after purchasing an additional 161,715 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Duke Realty by 45.1% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,200 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 6,900 shares during the period. Brookfield Asset Management Inc. boosted its holdings in Duke Realty by 1.4% in the 4th quarter. Brookfield Asset Management Inc. now owns 5,076,574 shares of the real estate investment trust’s stock valued at $138,134,000 after purchasing an additional 70,100 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in Duke Realty in the 4th quarter valued at $2,998,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

NYSE:DRE opened at $25.68 on Monday. Duke Realty has a 1 year low of $24.30 and a 1 year high of $30.14. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $9,167.50, a P/E ratio of 20.71, a PEG ratio of 4.63 and a beta of 0.72.

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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.

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