Duke Realty Corporation (DRE) Expected to Announce Quarterly Sales of $178.59 Million
Wall Street analysts forecast that Duke Realty Corporation (NYSE:DRE) will post sales of $178.59 million for the current quarter, Zacks reports. Five analysts have made estimates for Duke Realty Corporation’s earnings, with the lowest sales estimate coming in at $168.33 million and the highest estimate coming in at $192.96 million. Duke Realty Corporation reported sales of $204.26 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.6%. The firm is expected to issue its next earnings report on Wednesday, January 24th.
On average, analysts expect that Duke Realty Corporation will report full-year sales of $178.59 million for the current year, with estimates ranging from $721.69 million to $812.00 million. For the next financial year, analysts forecast that the firm will report sales of $764.03 million per share, with estimates ranging from $687.82 million to $824.95 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Duke Realty Corporation.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $169.61 million during the quarter, compared to analysts’ expectations of $168.75 million. Duke Realty Corporation had a net margin of 178.66% and a return on equity of 6.36%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share.
A number of equities analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Duke Realty Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $30.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $31.00 price objective on shares of Duke Realty Corporation in a research report on Thursday, September 21st. J P Morgan Chase & Co cut shares of Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Tuesday, September 26th. BidaskClub upgraded shares of Duke Realty Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research cut shares of Duke Realty Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $29.55.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Duke Realty Corporation by 4,741.6% in the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 3,651 shares during the last quarter. First Personal Financial Services grew its holdings in shares of Duke Realty Corporation by 1.2% in the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 46 shares during the period. Advisor Group Inc. grew its holdings in shares of Duke Realty Corporation by 0.3% in the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 12 shares during the period. Toronto Dominion Bank grew its holdings in shares of Duke Realty Corporation by 12.6% in the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 488 shares during the period. Finally, Fiduciary Trust Co. purchased a new stake in shares of Duke Realty Corporation in the second quarter valued at about $201,000. Institutional investors and hedge funds own 92.36% of the company’s stock.
Duke Realty Corporation (NYSE:DRE) traded down $0.07 during trading hours on Friday, reaching $29.15. 596,909 shares of the company’s stock were exchanged, compared to its average volume of 1,710,138. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market capitalization of $10,406.44, a PE ratio of 23.38, a PEG ratio of 5.39 and a beta of 0.92. Duke Realty Corporation has a 52 week low of $23.93 and a 52 week high of $30.14.
The firm also recently announced a special dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be given a $0.85 dividend. This represents a dividend yield of 2.74%. This is a boost from Duke Realty Corporation’s previous special dividend of $0.20. The ex-dividend date is Thursday, November 30th. Duke Realty Corporation’s dividend payout ratio is 19.18%.
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Duke Realty Corporation 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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