Duke Realty (NYSE:DRE) Posts Earnings Results, Beats Expectations By $0.46 EPS

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

Shares of NYSE:DRE opened at $54.75 on Friday. The business’s 50 day simple moving average is $56.80 and its 200-day simple moving average is $57.93. The firm has a market capitalization of $20.96 billion, a price-to-earnings 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 12 month low of $44.13 and a 12 month high of $66.22.

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

Large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its stake in shares of Duke Realty by 5.7% during the 4th quarter. Parametric Portfolio Associates LLC now owns 1,096,858 shares of the real estate investment trust’s stock worth $71,998,000 after acquiring an additional 59,056 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Duke Realty by 2.6% during the 4th quarter. California State Teachers Retirement System now owns 670,879 shares of the real estate investment trust’s stock worth $44,036,000 after acquiring an additional 17,283 shares in the last quarter. Millennium Management LLC raised its position in shares of Duke Realty by 96.0% during the 4th quarter. Millennium Management LLC now owns 279,193 shares of the real estate investment trust’s stock worth $18,326,000 after purchasing an additional 136,733 shares during the last quarter. Stifel Financial Corp raised its position in shares of Duke Realty by 4.6% during the 4th quarter. Stifel Financial Corp now owns 83,782 shares of the real estate investment trust’s stock worth $5,500,000 after purchasing an additional 3,665 shares during the last quarter. Finally, Allstate Corp raised its position in shares of Duke Realty by 177.3% during the 4th quarter. Allstate Corp now owns 43,359 shares of the real estate investment trust’s stock worth $2,846,000 after purchasing an additional 27,725 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently issued reports on DRE. Wells Fargo & Company lowered their price target on Duke Realty from $64.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 15th. StockNews.com began coverage on Duke Realty in a report on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets lowered Duke Realty from an “outperform” rating to a “market perform” rating and set a $68.00 price target on the stock. in a report on Friday, January 7th. Raymond James raised their price target on Duke Realty from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, January 10th. Finally, Truist Financial raised Duke Realty from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Thursday, February 3rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $61.60.

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.

Further Reading

Earnings History for Duke Realty (NYSE:DRE)

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