Duke Realty Corporation (DRE) to Issue Quarterly Dividend of $0.20 on November 30th
Duke Realty Corporation (NYSE:DRE) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Thursday, November 16th will be paid a dividend of 0.20 per share by the real estate investment trust on Thursday, November 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Duke Realty Corporation’s previous quarterly dividend of $0.19.
Duke Realty Corporation has increased its dividend by an average of 2.4% per year over the last three years and has raised its dividend every year for the last 2 years. Duke Realty Corporation has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Duke Realty Corporation to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 63.0%.
Duke Realty Corporation (DRE) opened at $29.11 on Tuesday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.45. Duke Realty Corporation has a twelve month low of $22.97 and a twelve month high of $30.14. The stock has a market cap of $10,313.84, a PE ratio of 23.17, a price-to-earnings-growth ratio of 5.34 and a beta of 0.92.
Duke Realty Corporation (NYSE:DRE) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Duke Realty Corporation had a net margin of 178.66% and a return on equity of 6.36%. The firm had revenue of $169.61 million for the quarter, compared to analysts’ expectations of $168.75 million. During the same quarter last year, the company posted $0.31 earnings per share. Duke Realty Corporation’s revenue was up 4.5% on a year-over-year basis. equities analysts expect that Duke Realty Corporation will post 1.24 EPS for the current fiscal year.
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A number of equities analysts have issued reports on DRE shares. Zacks Investment Research raised shares of Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 price target on shares of Duke Realty Corporation in a report on Thursday, September 21st. BidaskClub raised Duke Realty Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Barclays PLC cut their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Finally, BMO Capital Markets set a $30.00 price target on Duke Realty Corporation and gave the company a “hold” rating in a report on Wednesday, October 25th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.55.
About Duke Realty Corporation
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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