Duke Realty (NYSE:DRE) Updates FY 2021 Earnings Guidance

Duke Realty (NYSE:DRE) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.650-1.710 for the period. The company issued revenue guidance of -.

Shares of DRE stock traded up $0.86 during trading hours on Thursday, hitting $49.68. 1,085,716 shares of the company were exchanged, compared to its average volume of 1,932,996. The company has a 50 day moving average of $45.42. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. Duke Realty has a 52 week low of $34.01 and a 52 week high of $49.72. The stock has a market cap of $18.63 billion, a P/E ratio of 51.75, a PEG ratio of 4.92 and a beta of 0.53.

Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Duke Realty had a return on equity of 6.97% and a net margin of 34.07%. The company had revenue of $258.18 million for the quarter, compared to the consensus estimate of $252.25 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts forecast that Duke Realty will post 1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, May 13th. Duke Realty’s dividend payout ratio is 67.11%.

A number of research analysts recently weighed in on DRE shares. Morgan Stanley raised their target price on shares of Duke Realty from $42.00 to $44.00 and gave the company an equal weight rating in a research report on Thursday, May 20th. Mizuho raised their target price on shares of Duke Realty from $44.00 to $49.00 and gave the company a buy rating in a research report on Wednesday, April 21st. Royal Bank of Canada raised their target price on shares of Duke Realty from $43.00 to $49.00 and gave the company a sector perform rating in a research report on Tuesday, June 1st. Wells Fargo & Company raised their target price on shares of Duke Realty from $45.00 to $52.00 and gave the company an overweight rating in a research report on Monday. Finally, Zacks Investment Research downgraded shares of Duke Realty from a buy rating to a hold rating and set a $47.00 target price for the company. in a research report on Friday, April 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $48.25.

In other Duke Realty news, CEO James B. Connor sold 20,000 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $41.06, for a total value of $821,200.00. Following the completion of the sale, the chief executive officer now owns 141,758 shares in the company, valued at $5,820,583.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark A. Denien sold 46,000 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $46.43, for a total transaction of $2,135,780.00. Following the sale, the chief financial officer now owns 46,000 shares of the company’s stock, valued at approximately $2,135,780. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,680 shares of company stock valued at $4,439,203. Corporate insiders own 0.41% of the company’s stock.

About Duke Realty

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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Earnings History and Estimates for Duke Realty (NYSE:DRE)

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