Duke Realty Corp (NYSE:DRE) Expected to Announce Quarterly Sales of $215.93 Million

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Analysts predict that Duke Realty Corp (NYSE:DRE) will announce $215.93 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Duke Realty’s earnings. The lowest sales estimate is $215.16 million and the highest is $216.70 million. Duke Realty reported sales of $196.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.

According to Zacks, analysts expect that Duke Realty will report full year sales of $856.79 million for the current year, with estimates ranging from $855.68 million to $857.90 million. For the next year, analysts forecast that the company will post sales of $894.72 million, with estimates ranging from $891.30 million to $898.14 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Duke Realty.

Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The company had revenue of $213.11 million for the quarter, compared to analysts’ expectations of $212.46 million. During the same period last year, the business earned $0.54 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year.

DRE has been the subject of a number of research analyst reports. Wells Fargo & Co increased their price objective on shares of Duke Realty from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Barclays set a $35.00 target price on shares of Duke Realty and gave the company a “hold” rating in a report on Friday, October 11th. Scotiabank raised shares of Duke Realty from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. ValuEngine lowered shares of Duke Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lowered shares of Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 target price for the company. in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $39.03.

Shares of DRE opened at $33.97 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.90 and a quick ratio of 1.90. Duke Realty has a 1 year low of $24.67 and a 1 year high of $34.44. The company has a 50 day simple moving average of $33.43 and a two-hundred day simple moving average of $32.15. The firm has a market cap of $12.20 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 5.30 and a beta of 0.70.

In related news, EVP Peter D. Harrington sold 10,297 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total value of $342,890.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas C. Anthony sold 7,806 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its position in Duke Realty by 49.9% in the second quarter. Nuveen Asset Management LLC now owns 6,966,704 shares of the real estate investment trust’s stock worth $220,217,000 after buying an additional 2,320,405 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Duke Realty by 3.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,112,697 shares of the real estate investment trust’s stock worth $161,613,000 after buying an additional 151,116 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Duke Realty by 6.0% in the second quarter. Panagora Asset Management Inc. now owns 4,970,745 shares of the real estate investment trust’s stock worth $157,125,000 after buying an additional 283,252 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Duke Realty by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 4,140,629 shares of the real estate investment trust’s stock worth $130,885,000 after buying an additional 144,028 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Duke Realty by 25.0% in the second quarter. California Public Employees Retirement System now owns 2,650,358 shares of the real estate investment trust’s stock worth $83,778,000 after buying an additional 530,511 shares during the last quarter. Institutional investors own 93.49% of the company’s stock.

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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