Brokerages Expect Duke Realty Corp (NYSE:DRE) Will Post Earnings of $0.38 Per Share

Brokerages forecast that Duke Realty Corp (NYSE:DRE) will report $0.38 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Duke Realty’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.39. Duke Realty reported earnings of $0.35 per share during the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings report after the market closes on Wednesday, January 29th.

According to Zacks, analysts expect that Duke Realty will report full-year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.43 to $1.45. For the next fiscal year, analysts anticipate that the company will post earnings of $1.52 per share, with EPS estimates ranging from $1.49 to $1.54. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Duke Realty.

Duke Realty (NYSE:DRE) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.25. Duke Realty had a return on equity of 8.49% and a net margin of 40.04%. The firm had revenue of $215.37 million during the quarter, compared to analysts’ expectations of $215.83 million. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis.

DRE has been the subject of several recent analyst reports. BTIG Research cut Duke Realty from a “buy” rating to a “neutral” rating in a research note on Monday, January 6th. BMO Capital Markets cut Duke Realty from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $35.00 to $36.00 in a research note on Tuesday, January 7th. ValuEngine cut Duke Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $35.00 target price on Duke Realty and gave the stock a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley upped their target price on Duke Realty from $31.50 to $33.50 and gave the stock an “equal weight” rating in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.92.

NYSE DRE traded up $0.35 on Friday, hitting $35.96. 1,927,400 shares of the company’s stock were exchanged, compared to its average volume of 2,523,425. The stock has a 50-day moving average of $34.79 and a 200-day moving average of $34.01. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.55. Duke Realty has a 52 week low of $28.56 and a 52 week high of $36.28. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 5.23 and a beta of 0.67.

In other news, CEO James B. Connor sold 28,600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.08, for a total value of $1,003,288.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in DRE. Doyle Wealth Management acquired a new stake in Duke Realty in the second quarter valued at $25,000. Spirit of America Management Corp NY acquired a new stake in Duke Realty in the fourth quarter valued at $35,000. NumerixS Investment Technologies Inc acquired a new stake in Duke Realty in the second quarter valued at $36,000. CSat Investment Advisory L.P. increased its holdings in Duke Realty by 48.7% in the second quarter. CSat Investment Advisory L.P. now owns 1,338 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 438 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in Duke Realty in the third quarter valued at $53,000. Institutional investors own 92.60% of the company’s stock.

About Duke Realty

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

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