Yahoo Finance Duke Realty’s Revenue Rose, Income Fell in 3Q15
Duke Realty's New Plans Boost 3Q15 Revenue
Duke Realty’s price movement
Duke Realty (DRE) has a market cap of $7.3 billion. Duke’s YTD price movement has been a mixture of ups and downs in 2015. After the 3Q15 earnings report, DRE stock rose 1.1% to close at $21.06 per share on October 28, 2015. The price movements on weekly, monthly, and YTD bases are 0.91%, 10.2%, and 6.9%, respectively.
Technically, Duke Realty has sometimes broken the support of 20-day, 50-day, and 200-day moving averages in 2015. Currently, it’s trading at 3.0% above the 20-day moving average, 8.7% above the 50-day moving average, and 5.7% above the 200-day moving average.
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. SCHH’s YTD price movement is 3.7% as of October 27, 2015.
Below are the market caps for some of Duke Realty’s (DRE) competitors.
Realty Income (O) — $12.6 billion
VEREIT (VER) — $7.6 billion
Northstar Realty Finance (NRF) — $4.3 billion
Highwoods Properties (HIW) — $4.1 billion
Duke Realty’s performance in 3Q15
Duke Realty reported net revenue of $234.5 million in 3Q15, an increase of 3.8% compared to $225.9 million in 2Q15. Revenue from rental decreased 0.52%, and revenue from the general contractor increased 40.6% in 3Q15.
Net income and EPS (earnings per share) decreased to $77.2 million and $0.22, respectively, in 3Q15 compared to $454.2 million and $0.16, respectively, in 2Q15. Real estate investments increased 0.03% in 3Q15. The debt-to-equity ratio decreased 0.86% in 3Q15.
Below are some of Duke Realty’s key 3Q15 activities:
The company is developing two 90,089-square-foot industrial buildings in Pompano Commerce Center. One of the buildings is 43% preleased.
The company is building a new 614,880-square-foot industrial building in the Camp Creek Business Center.
Duke Realty’s Columbus office is developing a 421,200-square-foot, build-to-suit bulk warehouse for BASF Corporation.
The company has expanded its Pennsylvania industrial portfolio by acquiring West Hills Building B, a 232,655-square-foot warehouse distribution building that is 100% preleased to NFI Distribution.
The company opened a new office in Conshohocken, Pennsylvania.
Duke Realty signed a new lease with GELS Logistics in Carol Stream, Illinois, for its 304,624-square-foot bulk warehouse located at 370 Kimberly Drive in Carol Stream.
About Duke Realty
Duke Realty is an REIT that owns, manages, and develops bulk industries facilities and properties.
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