Zacks: Brokerages Expect Duke Realty Corporation (DRE) to Announce $0.29 Earnings Per Share
Wall Street brokerages expect Duke Realty Corporation (NYSE:DRE) to post earnings per share (EPS) of $0.29 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Duke Realty Corporation’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. Duke Realty Corporation posted earnings per share of $0.32 during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Duke Realty Corporation will report full-year earnings of $1.22 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.25. For the next financial year, analysts expect that the company will post earnings of $1.28 per share, with EPS estimates ranging from $1.25 to $1.33. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Duke Realty Corporation.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million during the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same period last year, the firm posted $0.30 EPS.
Several equities research analysts have recently commented on DRE shares. BidaskClub upgraded Duke Realty Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Stifel Nicolaus upped their price target on Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation cut Duke Realty Corporation from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $30.00 in a research note on Friday, June 23rd. Barclays PLC cut their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Finally, Morgan Stanley upped their price target on Duke Realty Corporation from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.73.
In related news, EVP Peter D. Harrington sold 30,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brookfield Asset Management Inc. acquired a new stake in shares of Duke Realty Corporation during the second quarter valued at $130,756,000. Lord Abbett & CO. LLC boosted its stake in shares of Duke Realty Corporation by 95.4% during the second quarter. Lord Abbett & CO. LLC now owns 2,973,900 shares of the real estate investment trust’s stock valued at $83,121,000 after acquiring an additional 1,452,100 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Duke Realty Corporation by 12.6% during the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 488 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Duke Realty Corporation during the second quarter valued at $599,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Duke Realty Corporation by 1.8% during the second quarter. Public Employees Retirement System of Ohio now owns 548,594 shares of the real estate investment trust’s stock valued at $15,333,000 after acquiring an additional 9,914 shares during the last quarter. 93.69% of the stock is currently owned by institutional investors and hedge funds.
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Duke Realty Corporation (NYSE DRE) opened at 29.41 on Friday. Duke Realty Corporation has a one year low of $22.97 and a one year high of $29.90. The firm has a market cap of $10.46 billion, a P/E ratio of 7.25 and a beta of 0.93. The company has a 50-day moving average of $28.86 and a 200 day moving average of $27.77.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio (DPR) is 18.86%.
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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