$0.45 EPS Expected for Duke Realty Co. (NYSE:DRE) This Quarter

Equities analysts expect that Duke Realty Co. (NYSE:DRE) will post $0.45 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Duke Realty’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.46. Duke Realty posted earnings per share of $0.41 in the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The company is expected to issue its next quarterly earnings results on Wednesday, January 26th.

According to Zacks, analysts expect that Duke Realty will report full-year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.74. For the next fiscal year, analysts anticipate that the business will post earnings of $1.88 per share, with EPS estimates ranging from $1.84 to $1.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Duke Realty.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.86. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $257.16 million. Duke Realty had a net margin of 82.95% and a return on equity of 16.67%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share.

Several research analysts recently issued reports on DRE shares. Morgan Stanley upped their price target on shares of Duke Realty from $51.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist upped their price target on shares of Duke Realty from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. Barclays started coverage on Duke Realty in a report on Wednesday, September 1st. They set an “overweight” rating and a $57.00 price objective for the company. Robert W. Baird upped their price target on Duke Realty from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, August 2nd. Finally, Royal Bank of Canada raised Duke Realty from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $65.00 in a research note on Friday, November 19th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $56.00.

In related news, Director Peter M. Scott III sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $53.41, for a total value of $427,280.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter D. Harrington sold 1,969 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $53.44, for a total value of $105,223.36. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRE. CX Institutional increased its holdings in shares of Duke Realty by 56.1% during the second quarter. CX Institutional now owns 612 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Clearstead Advisors LLC grew its holdings in Duke Realty by 513.0% during the third quarter. Clearstead Advisors LLC now owns 613 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 513 shares in the last quarter. West Branch Capital LLC bought a new stake in Duke Realty during the second quarter worth $38,000. Bedel Financial Consulting Inc. grew its holdings in Duke Realty by 160.1% during the second quarter. Bedel Financial Consulting Inc. now owns 822 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 506 shares in the last quarter. Finally, Bbva USA bought a new stake in Duke Realty during the second quarter worth $41,000. Hedge funds and other institutional investors own 96.50% of the company’s stock.

Shares of NYSE:DRE traded up $0.78 during trading on Thursday, reaching $59.91. The stock had a trading volume of 1,015,849 shares, compared to its average volume of 1,741,971. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 4.28 and a beta of 0.62. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $53.74 and a two-hundred day simple moving average of $50.84. Duke Realty has a 52 week low of $37.54 and a 52 week high of $60.07.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 30th. Investors of record on Tuesday, November 16th will be given a $0.28 dividend. The ex-dividend date is Monday, November 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from Duke Realty’s previous quarterly dividend of $0.26. Duke Realty’s dividend payout ratio (DPR) is presently 46.09%.

About Duke Realty

Duke Realty Corp. operates as a real estate development company, which specializes in the ownership, management and development of industrial and medical office properties. It offers property and asset management, leasing, construction and other tenant related services. Its diversified portfolio of rental properties encompass various business houses such as government services, manufacturing, retailing, wholesale trade, distribution, healthcare and professional services.

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Earnings History and Estimates for Duke Realty (NYSE:DRE)

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