Brokerages forecast that Duke Realty Corp (NYSE:DRE) will post sales of $202.81 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Duke Realty’s earnings, with the lowest sales estimate coming in at $199.35 million and the highest estimate coming in at $205.67 million. Duke Realty posted sales of $179.39 million in the same quarter last year, which suggests a positive year over year growth rate of 13.1%. The business is expected to report its next quarterly earnings report on Wednesday, January 30th.
According to Zacks, analysts expect that Duke Realty will report full year sales of $789.72 million for the current financial year, with estimates ranging from $781.82 million to $799.20 million. For the next year, analysts expect that the business will post sales of $839.87 million, with estimates ranging from $809.67 million to $867.34 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Duke Realty.
Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $196.91 million during the quarter, compared to analysts’ expectations of $197.78 million. Duke Realty had a net margin of 56.94% and a return on equity of 8.01%.
A number of analysts have issued reports on DRE shares. Zacks Investment Research upgraded shares of Duke Realty from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, October 3rd. Barclays reiterated a “hold” rating and issued a $26.00 target price on shares of Duke Realty in a research note on Sunday, October 14th. Scotiabank started coverage on shares of Duke Realty in a research note on Tuesday, October 16th. They issued a “sector perform” rating for the company. BMO Capital Markets reiterated a “hold” rating and issued a $30.00 target price on shares of Duke Realty in a research note on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.89.
NYSE DRE traded down $0.31 during trading on Tuesday, reaching $28.52. The company’s stock had a trading volume of 2,304,743 shares, compared to its average volume of 1,634,124. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $10.22 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 4.45 and a beta of 0.58. Duke Realty has a 1-year low of $24.30 and a 1-year high of $29.48.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Duke Realty’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 14th. Duke Realty’s payout ratio is presently 69.35%.
In other news, Director Melanie R. Sabelhaus sold 2,500 shares of the business’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $27.98, for a total value of $69,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter D. Harrington sold 16,500 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $28.98, for a total transaction of $478,170.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of DRE. Stratos Wealth Partners LTD. acquired a new position in Duke Realty during the 3rd quarter valued at $103,000. Piedmont Investment Advisors LLC acquired a new position in Duke Realty during the 2nd quarter valued at $121,000. Advisors Preferred LLC acquired a new position in Duke Realty during the 2nd quarter valued at $126,000. ClariVest Asset Management LLC acquired a new position in Duke Realty during the 3rd quarter valued at $162,000. Finally, Laurion Capital Management LP acquired a new position in Duke Realty during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 150 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 listed on the S&P 500 Index.
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