Duke Realty Corporation (DRE) Expected to Announce Quarterly Sales of $170.31 Million
Wall Street analysts expect that Duke Realty Corporation (NYSE:DRE) will report sales of $170.31 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Duke Realty Corporation’s earnings, with the lowest sales estimate coming in at $164.94 million and the highest estimate coming in at $174.40 million. Duke Realty Corporation posted sales of $206.85 million in the same quarter last year, which would indicate a negative year over year growth rate of 17.7%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Duke Realty Corporation will report full year sales of $170.31 million for the current fiscal year, with estimates ranging from $728.38 million to $812.00 million. For the next year, analysts anticipate that the company will post sales of $794.52 million per share, with estimates ranging from $773.00 million to $814.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. The firm had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. During the same quarter in the prior year, the company posted $0.30 earnings per share.
Several research firms recently commented on DRE. J P Morgan Chase & Co cut Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price on shares of Duke Realty Corporation in a research report on Thursday, September 21st. Zacks Investment Research upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Monday, October 2nd. Barclays PLC lowered their target price on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Finally, Morgan Stanley raised their target price on Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.45.
Duke Realty Corporation (NYSE DRE) opened at 28.94 on Tuesday. Duke Realty Corporation has a one year low of $22.97 and a one year high of $30.14. The company’s 50-day moving average price is $29.26 and its 200-day moving average price is $28.45. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 7.13 and a beta of 0.93.
In other news, EVP Peter D. Harrington sold 30,000 shares of Duke Realty Corporation 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. increased its position in shares of Duke Realty Corporation by 21.5% during the 3rd quarter. Eqis Capital Management Inc. now owns 10,760 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 1,902 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of Duke Realty Corporation during the 2nd quarter valued at $130,756,000. Lord Abbett & CO. LLC increased its position in shares of Duke Realty Corporation by 95.4% during the 2nd 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 purchasing an additional 1,452,100 shares during the period. Toronto Dominion Bank increased its position in shares of Duke Realty Corporation by 12.6% during the 2nd 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, WINTON GROUP Ltd acquired a new position in shares of Duke Realty Corporation during the 2nd quarter valued at $599,000. Institutional investors own 93.67% of the company’s stock.
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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