Analysts expect Duke Realty Corporation (NYSE:DRE) to report $170.91 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Duke Realty Corporation’s earnings, with estimates ranging from $166.73 million to $174.40 million. Duke Realty Corporation posted sales of $206.85 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Duke Realty Corporation will report full year sales of $170.91 million for the current year, with estimates ranging from $733.10 million to $812.00 million. For the next year, analysts anticipate that the company will post sales of $798.25 million per share, with estimates ranging from $773.00 million to $821.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Duke Realty Corporation.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The company had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. During the same quarter in the prior year, the business posted $0.30 EPS.
Several research firms have issued reports on DRE. Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $30.00 in a research report on Friday, June 23rd. BidaskClub lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Barclays PLC dropped their price target on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price target on shares of Duke Realty Corporation in a research report on Wednesday, June 7th. Finally, Stifel Nicolaus upped their price target on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.73.
Duke Realty Corporation (DRE) opened at 29.43 on Tuesday. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $29.44. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 7.25 and a beta of 0.94. The stock’s 50 day moving average is $28.32 and its 200 day moving average is $27.41.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be issued a $0.19 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.76 annualized dividend and a dividend yield of 2.58%. Duke Realty Corporation’s dividend payout ratio is currently 18.86%.
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In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its position in Duke Realty Corporation by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 409,338 shares of the real estate investment trust’s stock valued at $10,872,000 after buying an additional 26,264 shares in the last quarter. DnB Asset Management AS increased its position in Duke Realty Corporation by 29.0% in the first quarter. DnB Asset Management AS now owns 26,242 shares of the real estate investment trust’s stock valued at $689,000 after buying an additional 5,900 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Duke Realty Corporation by 7.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,459 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 672 shares in the last quarter. Korea Investment CORP increased its position in Duke Realty Corporation by 27.4% in the first quarter. Korea Investment CORP now owns 440,003 shares of the real estate investment trust’s stock valued at $11,559,000 after buying an additional 94,500 shares in the last quarter. Finally, Profund Advisors LLC increased its position in Duke Realty Corporation by 4.2% in the first quarter. Profund Advisors LLC now owns 59,619 shares of the real estate investment trust’s stock valued at $1,566,000 after buying an additional 2,401 shares in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
About Duke Realty Corporation
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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