Duke Realty (NYSE:DRE) Issues Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Duke Realty (NYSE:DRE – Get Rating) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.46, MarketWatch Earnings reports. The company had revenue of $275.20 million during the quarter, compared to analyst estimates of $266.97 million. Duke Realty had a return on equity of 17.79% and a net margin of 93.39%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Duke Realty updated its FY22 guidance to $1.88-1.94 EPS.

Shares of NYSE DRE traded down $5.20 during mid-day trading on Friday, hitting $54.75. The company had a trading volume of 4,859,509 shares, compared to its average volume of 1,423,787. The company has a market capitalization of $20.96 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 4.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.52 and a quick ratio of 1.52. Duke Realty has a 1-year low of $44.13 and a 1-year high of $66.22. The business’s 50-day simple moving average is $56.80 and its 200 day simple moving average is $57.93.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 13th. Duke Realty’s payout ratio is currently 41.64%.

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Duke Realty from $64.00 to $59.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 15th. BMO Capital Markets lowered Duke Realty from an “outperform” rating to a “market perform” rating and set a $68.00 price target for the company. in a research report on Friday, January 7th. Mizuho raised their price target on Duke Realty from $50.00 to $65.00 in a research report on Thursday, January 13th. StockNews.com started coverage on Duke Realty in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James raised their price target on Duke Realty from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, January 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $61.60.

Several hedge funds and other institutional investors have recently made changes to their positions in DRE. D. E. Shaw & Co. Inc. raised its stake in shares of Duke Realty by 6.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 41,937 shares of the real estate investment trust’s stock valued at $2,753,000 after acquiring an additional 2,680 shares in the last quarter. Millennium Management LLC raised its stake in Duke Realty by 96.0% in the fourth quarter. Millennium Management LLC now owns 279,193 shares of the real estate investment trust’s stock valued at $18,326,000 after buying an additional 136,733 shares in the last quarter. Stifel Financial Corp raised its stake in Duke Realty by 4.6% in the fourth quarter. Stifel Financial Corp now owns 83,782 shares of the real estate investment trust’s stock valued at $5,500,000 after buying an additional 3,665 shares in the last quarter. Penserra Capital Management LLC raised its stake in Duke Realty by 25.0% in the fourth quarter. Penserra Capital Management LLC now owns 1,695 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 339 shares in the last quarter. Finally, Allstate Corp raised its stake in Duke Realty by 177.3% in the fourth quarter. Allstate Corp now owns 43,359 shares of the real estate investment trust’s stock valued at $2,846,000 after buying an additional 27,725 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

About Duke Realty (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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