Brokerages forecast that Duke Realty Corp (NYSE:DRE) will report sales of $183.78 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Duke Realty’s earnings, with the highest sales estimate coming in at $190.61 million and the lowest estimate coming in at $177.20 million. Duke Realty reported sales of $217.92 million during the same quarter last year, which indicates a negative year-over-year growth rate of 15.7%. The company is expected to announce its next earnings results on Wednesday, April 25th.
On average, analysts expect that Duke Realty will report full year sales of $183.78 million for the current fiscal year, with estimates ranging from $727.74 million to $805.09 million. For the next year, analysts expect that the business will post sales of $823.63 million per share, with estimates ranging from $757.01 million to $900.43 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Duke Realty.
Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.13). The business had revenue of $179.39 million for the quarter, compared to analysts’ expectations of $175.00 million. Duke Realty had a return on equity of 6.28% and a net margin of 197.59%.
DRE has been the topic of several research reports. Citigroup raised shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, December 14th. Robert W. Baird set a $32.00 price target on shares of Duke Realty and gave the stock a “buy” rating in a research note on Monday, February 5th. ValuEngine raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets reissued a “hold” rating and set a $28.00 price target on shares of Duke Realty in a research note on Wednesday, January 31st. Finally, SunTrust Banks set a $27.00 price target on shares of Duke Realty and gave the stock a “hold” rating in a research note on Friday, February 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Duke Realty has a consensus rating of “Hold” and an average target price of $29.82.
Duke Realty stock traded up $0.24 during mid-day trading on Friday, hitting $26.27. 3,410,856 shares of the company’s stock traded hands, compared to its average volume of 2,949,458. The stock has a market capitalization of $9,074.68, a P/E ratio of 5.76, a PEG ratio of 4.59 and a beta of 0.80. Duke Realty has a 52-week low of $24.30 and a 52-week high of $30.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.43 and a quick ratio of 4.43.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Wednesday, February 14th. Duke Realty’s dividend payout ratio is 17.54%.
In other news, Director Charles R. Eitel sold 5,242 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 4,927 shares in the company, valued at $122,977.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of DRE. AEW Capital Management L P grew its holdings in shares of Duke Realty by 665.5% in the fourth quarter. AEW Capital Management L P now owns 2,462,600 shares of the real estate investment trust’s stock worth $67,007,000 after purchasing an additional 2,140,900 shares during the last quarter. BlackRock Inc. boosted its holdings in Duke Realty by 3.1% in the fourth quarter. BlackRock Inc. now owns 38,099,284 shares of the real estate investment trust’s stock valued at $1,036,682,000 after acquiring an additional 1,148,918 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Duke Realty by 11,053.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 780,718 shares of the real estate investment trust’s stock valued at $21,243,000 after acquiring an additional 773,718 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Duke Realty by 336.5% in the third quarter. Schroder Investment Management Group now owns 953,029 shares of the real estate investment trust’s stock valued at $27,590,000 after acquiring an additional 734,693 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Duke Realty by 24.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,660,886 shares of the real estate investment trust’s stock valued at $105,507,000 after acquiring an additional 711,572 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.
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Duke Realty Company Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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