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How Does Duke Realty Compare to Its Peers?

Gabriel Kane

Duke Realty's New Plans Boost 3Q15 Revenue

(Continued from Prior Part)

Duke Realty and its peers

In this part of the series, we’ll compare Duke with its peers.

  • The PE (price-to-earnings) ratios of Duke Realty (DRE), Realty Income (O), and Highwoods Properties (HIW) are 48.98x, 46.00x, and 34.92x, respectively.

  • The PBV (price-to-book value) ratios of Duke, Realty Income, VEREIT (VER), Northstar Realty Finance (NRF), and Highwoods are 2.23x, 2.11x, 0.85x, 0.99x, and 2.71x, respectively.

  • The PS (price-to-sales) ratios of Duke Realty, Realty Income, VEREIT, Northstar Realty, and Highwoods are 6.85x, 12.76x, 4.59x, 2.56x, and 6.62x, respectively.

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Duke Realty has outperformed its peers based on PE, PBV, and PS.

ETFs that invest in Duke Realty

The Schwab US REIT ETF (SCHH) invests 1.2% of its holdings in Duke Realty. The ETF tracks a market-cap–weighted index of real estate investment trusts, excluding mortgage REITs and firms involved in real estate finance.

The PowerShares S&P MidCap Low Volatility ETF (XMLV) invests 1.2% of its holdings in Duke Realty. The ETF tracks a volatility-weighted index of the 80 least volatile S&P MidCap 400 companies.

The SPDR Dow Jones REIT ETF (RWR) invests 1.2% of its holdings in Duke Realty. The ETF tracks a market-cap–weighted index of firms involved in the ownership and operation of commercial, residential, healthcare, and another real estate.

How Duke Realty compares to its ETFs

Now let’s compare Duke Realty with the ETFs that invest in it.

  • The year-to-date price movements of Duke, SCHH, XMLV, and RWR are 6.9%, 3.7%, 5.7%, and 3.4%, respectively.

  • The PE (price-to-earnings) ratios of Duke, SCHH, XMLV, and RWR are 48.98x, 36.90x, 20.23x, and 36.95x, respectively.

  • The PBV (price-to-book value) ratios of Duke, SCHH, XMLV, and RWR are 2.23x, 2.36x, 2.22x, and 2.36x, respectively.

According to the above figures, the ETFs are way ahead of Duke Realty based on PBV. However, Duke Realty has outperformed its ETFs based on price movement and PE.

Browse this series on Market Realist: