Duke Realty (NYSE:DRE) Posts Earnings Results, Misses Estimates By $0.26 EPS

Duke Realty (NYSE:DRE) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26), MarketWatch Earnings reports. The business had revenue of $226.37 million during the quarter, compared to analyst estimates of $224.54 million. Duke Realty had a net margin of 39.78% and a return on equity of 7.38%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Duke Realty updated its FY 2020
After-Hours guidance to 1.48-1.54 EPS and its FY20 guidance to $1.48-1.54 EPS.

Shares of NYSE:DRE traded up $0.22 during trading on Friday, hitting $40.19. 2,155,059 shares of the company were exchanged, compared to its average volume of 2,067,763. The stock has a market capitalization of $14.81 billion, a P/E ratio of 39.79, a PEG ratio of 6.18 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.61 and a quick ratio of 1.97. Duke Realty has a 12-month low of $25.19 and a 12-month high of $40.84. The firm’s 50 day moving average price is $36.10 and its 200-day moving average price is $34.60.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.94 dividend on an annualized basis and a yield of 2.34%. Duke Realty’s dividend payout ratio is currently 65.28%.

In other news, CFO Mark A. Denien sold 4,881 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $37.16, for a total transaction of $181,377.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

DRE has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Duke Realty from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Robert W. Baird lifted their price objective on shares of Duke Realty from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. BMO Capital Markets restated a “hold” rating and issued a $34.00 price objective on shares of Duke Realty in a report on Wednesday. Citigroup dropped their price objective on shares of Duke Realty from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $37.00 price target on shares of Duke Realty in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $36.55.

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 for Duke Realty (NYSE:DRE)

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