Duke Realty Corp (DRE) Expected to Post Quarterly Sales of $205.90 Million

Wall Street analysts expect Duke Realty Corp (NYSE:DRE) to report $205.90 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Duke Realty’s earnings. The lowest sales estimate is $199.82 million and the highest is $208.60 million. Duke Realty reported sales of $234.56 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.2%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, April 24th.

On average, analysts expect that Duke Realty will report full-year sales of $846.68 million for the current fiscal year, with estimates ranging from $811.03 million to $865.21 million. For the next fiscal year, analysts forecast that the company will report sales of $906.28 million, with estimates ranging from $847.87 million to $955.01 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Duke Realty.

Duke Realty (NYSE:DRE) last released its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.17). Duke Realty had a return on equity of 8.02% and a net margin of 40.48%. The firm had revenue of $202.86 million during the quarter, compared to analyst estimates of $200.75 million. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis.

Several equities analysts have commented on DRE shares. BTIG Research upgraded Duke Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. BMO Capital Markets upgraded Duke Realty from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 9th. SunTrust Banks upgraded Duke Realty from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Zacks Investment Research downgraded Duke Realty from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Finally, Barclays reiterated a “hold” rating and set a $28.00 price target on shares of Duke Realty in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.11.

NYSE:DRE opened at $30.13 on Friday. Duke Realty has a 52 week low of $24.67 and a 52 week high of $31.07. The company has a market capitalization of $10.82 billion, a P/E ratio of 22.49, a PEG ratio of 4.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.50 and a current ratio of 2.50.

In other news, Director Melanie R. Sabelhaus sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.89, for a total value of $154,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark A. Denien sold 46,328 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $29.49, for a total value of $1,366,212.72. Following the completion of the sale, the chief financial officer now directly owns 7,059 shares of the company’s stock, valued at $208,169.91. The disclosure for this sale can be found here. Insiders sold 94,674 shares of company stock valued at $2,805,226 over the last three months. 0.29% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Massey Quick Simon & CO. LLC bought a new position in Duke Realty in the first quarter worth $31,000. Macroview Investment Management LLC bought a new position in Duke Realty in the fourth quarter worth $32,000. Capital Investment Advisory Services LLC bought a new position in Duke Realty in the fourth quarter worth $35,000. Pearl River Capital LLC bought a new position in Duke Realty in the fourth quarter worth $109,000. Finally, Berman Capital Advisors LLC bought a new position in Duke Realty in the fourth quarter worth $136,000. 93.67% of the stock is owned by institutional investors.

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 and Estimates for Duke Realty (NYSE:DRE)

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