Duke Realty
Market Cap
US$13.3b
Last Updated
2020/01/22 23:36 UTC
Data Sources
Company Financials +
Executive Summary
Duke Realty Corporation owns and operates approximately 155 million rentable square feet of industrial assets in 20 major logistics markets.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -14% per year for the next 3 years
Snowflake Analysis
Second-rate dividend payer and slightly overvalued.
Similar Companies
Share Price & News
How has Duke Realty's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DRE has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.3%
DRE
2.3%
US REITs
0.8%
US Market
1 Year Return
25.4%
DRE
20.0%
US REITs
25.1%
US Market
Return vs Industry: DRE exceeded the US REITs industry which returned 17.9% over the past year.
Return vs Market: DRE matched the US Market which returned 25.1% over the past year.
Shareholder returns
| DRE | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.3% | 2.3% | 0.8% |
| 30 Day | 4.7% | 4.3% | 3.1% |
| 90 Day | 3.3% | 0.3% | 10.9% |
| 1 Year | 28.9%25.4% | 24.9%20.0% | 27.7%25.1% |
| 3 Year | 53.1%36.4% | 36.0%18.9% | 51.3%41.6% |
| 5 Year | 93.4%59.7% | 47.5%17.1% | 77.2%57.6% |
Price Volatility Vs. Market
How volatile is Duke Realty's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Can Duke Realty Corporation (NYSE:DRE) Maintain Its Strong Returns?1 month ago | Simply Wall St
Does Duke Realty Corporation's (NYSE:DRE) CEO Salary Compare Well With Others?1 month ago | Simply Wall St
This Insider Has Just Sold Shares In Duke Realty Corporation (NYSE:DRE)Valuation
Is Duke Realty undervalued compared to its fair value and its price relative to the market?
14.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DRE ($34.99) is trading below our estimate of fair value ($45.91)
Significantly Below Fair Value: DRE is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: DRE is good value based on its PE Ratio (31.2x) compared to the REITs industry average (37.8x).
PE vs Market: DRE is poor value based on its PE Ratio (31.2x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: DRE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: DRE is overvalued based on its PB Ratio (2.6x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is Duke Realty forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-14.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DRE's earnings are forecast to decline over the next 3 years (-14% per year).
Earnings vs Market: DRE's earnings are forecast to decline over the next 3 years (-14% per year).
High Growth Earnings: DRE's earnings are forecast to decline over the next 3 years.
Revenue vs Market: DRE's revenue (6.4% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: DRE's revenue (7.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DRE's Return on Equity is forecast to be low in 3 years time (3.7%).
Next Steps
Past Performance
How has Duke Realty performed over the past 5 years?
15.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DRE has a large one-off gain of $236.6M impacting its September 30 2019 financial results.
Growing Profit Margin: DRE's current net profit margins (39.5%) are lower than last year (43.9%).
Past Earnings Growth Analysis
Earnings Trend: DRE's earnings have grown by 15.4% per year over the past 5 years.
Accelerating Growth: DRE's earnings growth over the past year (7.9%) is below its 5-year average (15.4% per year).
Earnings vs Industry: DRE earnings growth over the past year (7.9%) underperformed the REITs industry 8.1%.
Return on Equity
High ROE: DRE's Return on Equity (8.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Duke Realty's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: DRE has a high level of physical assets or inventory.
Debt Coverage by Assets: DRE's debt is not covered by short term assets (assets are 0.3x debt).
Financial Institutions Analysis
Asset Level: DRE's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if DRE has a sufficient allowance for bad loans.
Low Risk Liabilities: DRE reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if DRE has an acceptable proportion of non-loan assets held.
Low Risk Deposits: DRE has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if DRE has an appropriate level of bad loans.
Next Steps
Dividend
What is Duke Realty's current dividend yield, its reliability and sustainability?
2.64%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: DRE's dividend (2.69%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: DRE's dividend (2.69%) is low compared to the top 25% of dividend payers in the US market (3.66%).
Stability and Growth of Payments
Stable Dividend: DRE's dividend payments have been volatile in the past 10 years.
Growing Dividend: DRE's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (60.4%), DRE's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DRE's dividends in 3 years are forecast to be thoroughly covered by earnings (0.1% payout ratio).
Next Steps
Management
What is the CEO of Duke Realty's salary, the management and board of directors tenure and is there insider trading?
2.5yrs
Average management tenure
CEO
Jim Connor (60yo)
4yrs
Tenure
US$6,873,613
Compensation
Mr. James B. Connor, known as Jim, has been the Chief Executive Officer of Duke Realty Corporation, the General Partner of Duke Realty L.P. since January 1, 2016 and has been its Chairman of the Board sinc ...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD6.87M) is below average for companies of similar size in the US market ($USD10.76M).
Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.
Management Age and Tenure
2.5yrs
Average Tenure
54yo
Average Age
Experienced Management: DRE's management team is considered experienced (2.5 years average tenure).
Board Age and Tenure
6.8yrs
Average Tenure
68.5yo
Average Age
Experienced Board: DRE's board of directors are considered experienced (6.8 years average tenure).
Insider Trading
Insider Buying: DRE insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Executive Officer Chairman & CEO |
| Shares | 28,600 |
| Max Price | US$35.08 |
| Entity | Individual |
| Shares | 10,297 |
| Max Price | US$33.30 |
| Entity | Individual |
| Role | Chief Investment Officer Executive VP & Chief Investment Officer |
| Shares | 7,806 |
| Max Price | US$32.61 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 5,000 |
| Max Price | US$30.89 |
| Entity | Individual |
| Role | Chief Legal Officer Executive VP |
| Shares | 18,334 |
| Max Price | US$29.77 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 10,000 |
| Max Price | US$29.82 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 5,075 |
| Max Price | US$29.89 |
| Entity | Individual |
| Role | Chief Investment Officer Executive VP & Chief Investment Officer |
| Shares | 9,937 |
| Max Price | US$29.07 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP & CFO |
| Shares | 46,328 |
| Max Price | US$29.49 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Jim Connor (60yo)
Chairman & CEO
- Tenure: 4yrs
- Compensation: US$6.87m
Paul Defonce
Senior Vice President of Information Technology
Ron Hubbard
Vice President of Investor relations
Mark Denien (51yo)
Executive VP & CFO
- Tenure: 6.7yrs
- Compensation: US$3.00m
Ann Dee (59yo)
Executive VP
- Tenure: 7yrs
- Compensation: US$2.15m
Nick Anthony (54yo)
Executive VP & Chief Investment Officer
- Compensation: US$2.41m
Helen McCarthy
Manager of Communications & Public Relations
Steve Schnur (46yo)
Executive VP & COO
- Tenure: 0.3yrs
- Compensation: US$2.20m
Mark Milnamow
Senior VP & Chief Accounting Officer
- Tenure: 0.9yrs
Jenny Bean
Senior Vice President of Human Resources
- Tenure: 1yrs
Board Members
Ngaire Cuneo (68yo)
Independent Director
- Tenure: 25yrs
- Compensation: US$228.75k
Peter Scott (69yo)
Independent Director
- Tenure: 8.3yrs
- Compensation: US$250.00k
Mike Szymanczyk (70yo)
Independent Director
- Tenure: 5.8yrs
- Compensation: US$245.00k
Lynn Thurber (72yo)
Independent Director
- Tenure: 11.5yrs
- Compensation: US$226.00k
Charlie Eitel (69yo)
Independent Director
- Tenure: 21yrs
- Compensation: US$226.00k
Dave Stockert (56yo)
Lead Director
- Tenure: 1yrs
- Compensation: US$226.00k
Jim Connor (60yo)
Chairman & CEO
- Tenure: 4yrs
- Compensation: US$6.87m
Melanie Sabelhaus (70yo)
Independent Director
- Tenure: 7.8yrs
- Compensation: US$233.50k
John Case (55yo)
Independent Director
- Tenure: 2yrs
- Compensation: US$250.00k
Norman Jenkins (56yo)
Independent Director
- Tenure: 2.5yrs
- Compensation: US$225.00k
Company Information
Duke Realty Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Duke Realty Corporation
- Ticker: DRE
- Exchange: NYSE
- Founded: 1972
- Industry: Industrial REITs
- Sector: Real Estate
- Implied Market Cap: US$13.323b
- Market Cap: US$13.089b
- Shares outstanding: 370.71m
- Website: https://www.dukerealty.com
Number of Employees
Location
- Duke Realty Corporation
- 600 East 96th Street
- Suite 100
- Indianapolis
- Indiana
- 46240
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DRE | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Aug 1988 |
| DUR | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Aug 1988 |
| 0ID0 | LSE (London Stock Exchange) | Yes | Common Shares | GB | USD | Aug 1988 |
| DRE * | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Aug 1988 |
Biography
Duke Realty Corporation owns and operates approximately 155 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.Â
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/22 23:36 |
| End of Day Share Price | 2020/01/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.