Wall Street brokerages expect Duke Realty Corp (NYSE:DRE) to post earnings per share of $0.35 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Duke Realty’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.36. Duke Realty posted earnings per share of $0.33 in the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 22nd.
According to Zacks, analysts expect that Duke Realty will report full year earnings of $1.50 per share for the current financial year, with EPS estimates ranging from $1.42 to $1.53. For the next year, analysts anticipate that the firm will report earnings of $1.58 per share, with EPS estimates ranging from $1.45 to $1.62. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Duke Realty.
Duke Realty (NYSE:DRE) last released its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.10. The firm had revenue of $217.40 million for the quarter, compared to the consensus estimate of $216.62 million. Duke Realty had a net margin of 44.05% and a return on equity of 8.80%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS.
DRE has been the topic of a number of recent research reports. BTIG Research downgraded shares of Duke Realty from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. BMO Capital Markets downgraded shares of Duke Realty from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $35.00 to $36.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price objective on shares of Duke Realty from $31.50 to $33.50 and gave the company an “equal weight” rating in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Duke Realty has a consensus rating of “Hold” and a consensus target price of $39.92.
Shares of NYSE:DRE traded up $2.14 during midday trading on Thursday, reaching $30.66. The company’s stock had a trading volume of 265,304 shares, compared to its average volume of 3,884,381. The firm has a 50 day moving average of $33.91 and a 200-day moving average of $34.39. The firm has a market capitalization of $10.69 billion, a P/E ratio of 26.19, a PEG ratio of 4.75 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. Duke Realty has a 12-month low of $25.19 and a 12-month high of $38.88.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 13th. Duke Realty’s dividend payout ratio (DPR) is 65.28%.
Hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. raised its position in shares of Duke Realty by 39.3% during the fourth quarter. Cohen & Steers Inc. now owns 25,850,229 shares of the real estate investment trust’s stock valued at $896,227,000 after buying an additional 7,293,505 shares during the last quarter. Norges Bank acquired a new position in shares of Duke Realty during the 4th quarter worth approximately $141,315,000. Brookfield Public Securities Group LLC acquired a new position in shares of Duke Realty during the 4th quarter worth approximately $78,500,000. Daiwa Securities Group Inc. raised its stake in shares of Duke Realty by 24.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,153,027 shares of the real estate investment trust’s stock worth $317,335,000 after buying an additional 1,826,162 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Duke Realty by 24.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,871,409 shares of the real estate investment trust’s stock worth $307,572,000 after buying an additional 1,770,868 shares during the period. 95.72% of the stock is currently owned by institutional investors.
Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 153 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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