Duke Realty Corporation (NYSE:DRE) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Shareholders of record on Wednesday, August 16th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, August 31st. This represents a $0.76 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, August 14th.
Duke Realty Corporation has increased its dividend payment by an average of 2.4% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Duke Realty Corporation has a dividend payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Duke Realty Corporation to earn $1.28 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 59.4%.
Shares of Duke Realty Corporation (NYSE DRE) traded up 1.19% during trading on Friday, reaching $28.86. 3,860,711 shares of the company’s stock traded hands. Duke Realty Corporation has a 52-week low of $22.97 and a 52-week high of $29.25. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 7.11 and a beta of 0.94. The company’s 50-day moving average is $28.28 and its 200 day moving average is $27.33.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million during the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same period in the previous year, the business posted $0.30 EPS. Equities analysts forecast that Duke Realty Corporation will post $3.69 EPS for the current year.
A number of brokerages have recently weighed in on DRE. Stifel Nicolaus boosted their price objective on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. BidaskClub upgraded shares of Duke Realty Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $30.00 in a report on Friday, June 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $30.00 price target on shares of Duke Realty Corporation in a report on Wednesday, June 7th. Finally, Zacks Investment Research lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $28.73.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.
About Duke Realty Corporation
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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