Zacks: Brokerages Anticipate Duke Realty Co. (NYSE:DRE) Will Post Quarterly Sales of $281.97 Million

Wall Street analysts forecast that Duke Realty Co. (NYSE:DREGet Rating) will announce sales of $281.97 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Duke Realty’s earnings. The lowest sales estimate is $276.90 million and the highest is $287.04 million. Duke Realty posted sales of $271.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Duke Realty will report full year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.16 billion. For the next year, analysts anticipate that the business will report sales of $1.27 billion, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Duke Realty.

Duke Realty (NYSE:DREGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.46. Duke Realty had a net margin of 93.39% and a return on equity of 17.47%. The business had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $266.97 million. During the same period last year, the business earned $0.39 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis.

DRE has been the subject of several recent analyst reports. Mizuho lowered their price target on Duke Realty from $65.00 to $58.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Truist Financial upgraded Duke Realty from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Thursday, February 3rd. StockNews.com began coverage on Duke Realty in a research report on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets raised Duke Realty from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $68.00 to $65.00 in a research report on Monday, May 16th. Finally, Wells Fargo & Company lowered their price target on Duke Realty from $64.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 15th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $60.60.

Shares of Duke Realty stock opened at $50.91 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $19.57 billion, a P/E ratio of 18.93, a P/E/G ratio of 3.46 and a beta of 0.73. The business has a fifty day simple moving average of $56.27 and a two-hundred day simple moving average of $57.63. Duke Realty has a 12 month low of $45.42 and a 12 month high of $66.22.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.12 annualized dividend and a dividend yield of 2.20%. Duke Realty’s dividend payout ratio (DPR) is 41.64%.

Several institutional investors and hedge funds have recently modified their holdings of DRE. Advisor Group Holdings Inc. increased its position in shares of Duke Realty by 17.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 26,618 shares of the real estate investment trust’s stock valued at $1,280,000 after purchasing an additional 3,974 shares during the last quarter. Creative Planning raised its stake in Duke Realty by 14.9% in the third quarter. Creative Planning now owns 20,834 shares of the real estate investment trust’s stock valued at $997,000 after buying an additional 2,698 shares during the last quarter. IndexIQ Advisors LLC increased its holdings in shares of Duke Realty by 5.5% in the third quarter. IndexIQ Advisors LLC now owns 6,502 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 337 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Duke Realty by 45.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,896 shares of the real estate investment trust’s stock valued at $809,000 after purchasing an additional 5,243 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in shares of Duke Realty by 8.6% in the third quarter. Public Sector Pension Investment Board now owns 63,813 shares of the real estate investment trust’s stock valued at $3,055,000 after purchasing an additional 5,030 shares during the period. 96.91% of the stock is currently owned by institutional investors and hedge funds.

Duke Realty Company Profile (Get Rating)

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

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Earnings History and Estimates for Duke Realty (NYSE:DRE)

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