Duke Realty
Market Cap
US$15.1b
Last Updated
2021/01/23 23:37 UTC
Data Sources
Company Financials +
Executive Summary
Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 major logistics markets. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer with mediocre balance sheet.
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 is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: DRE's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
3.4%
DRE
1.1%
US REITs
2.3%
US Market
1 Year Return
11.5%
DRE
-10.6%
US REITs
23.8%
US Market
Return vs Industry: DRE exceeded the US REITs industry which returned -10.6% over the past year.
Return vs Market: DRE underperformed the US Market which returned 23.7% over the past year.
Shareholder returns
| DRE | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.4% | 1.1% | 2.3% |
| 30 Day | 2.4% | 1.7% | 4.8% |
| 90 Day | 3.3% | 5.6% | 14.5% |
| 1 Year | 14.4%11.5% | -6.4%-10.6% | 26.6%23.8% |
| 3 Year | 67.6%54.2% | 25.2%9.8% | 45.0%35.4% |
| 5 Year | 137.6%99.9% | 52.7%21.4% | 126.2%101.0% |
Long-Term 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
3 weeks ago | Simply Wall St
Do Fundamentals Have Any Role To Play In Driving Duke Realty Corporation's (NYSE:DRE) Stock Up Recently?1 month ago | Simply Wall St
Duke Realty (NYSE:DRE) Has Gifted Shareholders With A Fantastic 120% Total Return On Their Investment2 months ago | Simply Wall St
Did Duke Realty Corporation (NYSE:DRE) Insiders Sell Shares?Valuation
Is Duke Realty undervalued compared to its fair value and its price relative to the market?
9.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DRE ($40.24) is trading below our estimate of fair value ($44.64)
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 poor value based on its PE Ratio (68.6x) compared to the US REITs industry average (38.1x).
PE vs Market: DRE is poor value based on its PE Ratio (68.6x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: DRE is poor value based on its PEG Ratio (9.2x)
Price to Book Ratio
PB vs Industry: DRE is overvalued based on its PB Ratio (3x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is Duke Realty forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
7.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DRE's forecast earnings growth (7.4% per year) is above the savings rate (2%).
Earnings vs Market: DRE's earnings (7.4% per year) are forecast to grow slower than the US market (21.6% per year).
High Growth Earnings: DRE's earnings are forecast to grow, but not significantly.
Revenue vs Market: DRE's revenue (6.3% per year) is forecast to grow slower than the US market (10.6% per year).
High Growth Revenue: DRE's revenue (6.3% 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 (4.6%).
Next Steps
Past Performance
How has Duke Realty performed over the past 5 years?
11.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DRE has high quality earnings.
Growing Profit Margin: DRE's current net profit margins (22.3%) are lower than last year (39.5%).
Past Earnings Growth Analysis
Earnings Trend: DRE's earnings have grown by 11.5% per year over the past 5 years.
Accelerating Growth: DRE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: DRE had negative earnings growth (-46.4%) over the past year, making it difficult to compare to the REITs industry average (2.9%).
Return on Equity
High ROE: DRE's Return on Equity (4.3%) is considered low.
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Financial Health
How is Duke Realty's financial position?
Financial Position Analysis
Short Term Liabilities: DRE's short term assets ($218.4M) exceed its short term liabilities ($211.4M).
Long Term Liabilities: DRE's short term assets ($218.4M) do not cover its long term liabilities ($3.4B).
Debt to Equity History and Analysis
Debt Level: DRE's debt to equity ratio (61.7%) is considered high.
Reducing Debt: DRE's debt to equity ratio has reduced from 104.1% to 61.7% over the past 5 years.
Debt Coverage: DRE's debt is not well covered by operating cash flow (17.2%).
Interest Coverage: DRE's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Duke Realty current dividend yield, its reliability and sustainability?
2.53%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DRE's dividend (2.53%) is higher than the bottom 25% of dividend payers in the US market (1.38%).
High Dividend: DRE's dividend (2.53%) is low compared to the top 25% of dividend payers in the US market (3.85%).
Stability and Growth of Payments
Stable Dividend: DRE's dividends per share have been stable in the past 10 years.
Growing Dividend: DRE's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (69.5%), 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 covered by earnings (57.2% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
6.3yrs
Average management tenure
CEO
Jim Connor (61 yo)
5yrs
Tenure
US$6,693,904
Compensation
Mr. James B. Connor, known as Jim, has been the Chief Executive Officer of Duke Realty Corporation, the General Partner of Duke Realty L.P. since January 1, 2016 and has been its Chairman of the Board sinc...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD6.69M) is below average for companies of similar size in the US market ($USD10.57M).
Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 5yrs | US$6.69m | 0.050% $ 7.5m | |
| Executive VP & CFO | 7.67yrs | US$2.92m | 0.0026% $ 385.1k | |
| Executive VP & COO | 1.33yrs | US$2.34m | 0.0034% $ 518.0k | |
| Executive VP & Chief Investment Officer | 7.58yrs | US$2.49m | 0.0067% $ 1.0m | |
| Executive VP | 8yrs | US$2.12m | 0.015% $ 2.3m | |
| Senior VP & Chief Accounting Officer | 1.92yrs | no data | no data | |
| Senior Vice President of Information Technology | no data | no data | no data | |
| Vice President of Investor relations | no data | no data | no data | |
| Manager of Communications & Public Relations | no data | no data | no data | |
| Chief Human Resources Officer | 2yrs | no data | no data | |
| Senior Vice President of Leasing and Development | 15yrs | US$1.43m | no data | |
| Senior Vice President of Leasing & Development for Houston | no data | no data | no data |
6.3yrs
Average Tenure
54yo
Average Age
Experienced Management: DRE's management team is seasoned and experienced (6.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 5yrs | US$6.69m | 0.050% $ 7.5m | |
| Independent Director | 26yrs | US$225.00k | 0.011% $ 1.6m | |
| Independent Director | 9.25yrs | US$250.00k | 0.0049% $ 744.5k | |
| Independent Director | 6.75yrs | US$246.88k | 0.010% $ 1.5m | |
| Independent Director | 12.5yrs | US$226.00k | 0.032% $ 4.8m | |
| Independent Director | 22yrs | US$226.00k | no data | |
| Independent Lead Director | 2yrs | US$241.00k | 0.0097% $ 1.5m | |
| Independent Director | 2yrs | US$250.00k | 0.0012% $ 175.2k | |
| Independent Director | 8.75yrs | US$242.88k | 0.0084% $ 1.3m | |
| Independent Director | 3yrs | US$225.00k | 0.0031% $ 462.1k | |
| Independent Director | 3.5yrs | US$225.00k | 0.0010% $ 151.0k | |
| Independent Director | 2.92yrs | US$225.00k | 0.0031% $ 463.6k |
5.3yrs
Average Tenure
65yo
Average Age
Experienced Board: DRE's board of directors are considered experienced (5.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$15.101b
- Market Cap: US$14.967b
- Shares outstanding: 375.28m
- Website: https://www.dukerealty.com
Number of Employees
Location
- Duke Realty Corporation
- 8711 River Crossing Boulevard
- 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 |
| D1RE34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 1 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/23 23:37 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.