Duke Realty Corp (DRE) Director Sells $70,625.00 in Stock
Duke Realty Corp (NYSE:DRE) Director Peter M. Scott III sold 2,500 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $28.25, for a total transaction of $70,625.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Duke Realty Corp (NYSE:DRE) traded down 0.46% during midday trading on Tuesday, hitting $27.99. 209,259 shares of the company were exchanged. Duke Realty Corp has a 52-week low of $22.64 and a 52-week high of $28.99. The company has a 50-day moving average price of $27.33 and a 200-day moving average price of $26.01. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 29.40 and a beta of 0.93.
Duke Realty Corp (NYSE:DRE) last posted its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $204.47 million. Duke Realty Corp had a return on equity of 9.27% and a net margin of 34.60%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, analysts forecast that Duke Realty Corp will post $0.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, May 12th. Duke Realty Corp’s dividend payout ratio (DPR) is 86.36%.
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Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Duke Realty Corp by 1,882.9% in the first quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after buying an additional 40,138,665 shares during the period. Lasalle Investment Management Securities LLC boosted its stake in shares of Duke Realty Corp by 5,386.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 6,857,824 shares of the real estate investment trust’s stock worth $180,155,000 after buying an additional 6,732,824 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Duke Realty Corp by 7,126.9% in the first quarter. Daiwa Securities Group Inc. now owns 6,215,141 shares of the real estate investment trust’s stock worth $163,272,000 after buying an additional 6,129,141 shares during the last quarter. Norges Bank purchased a new stake in shares of Duke Realty Corp during the fourth quarter worth about $81,956,000. Finally, Vanguard Group Inc. boosted its stake in shares of Duke Realty Corp by 3.2% in the first quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock worth $1,496,116,000 after buying an additional 1,744,485 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.
A number of research firms have recently issued reports on DRE. Zacks Investment Research lowered shares of Duke Realty Corp from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Barclays PLC upped their target price on shares of Duke Realty Corp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Stifel Nicolaus dropped their target price on shares of Duke Realty Corp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, January 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $28.00 target price on shares of Duke Realty Corp in a report on Monday, March 20th. Finally, Mizuho raised shares of Duke Realty Corp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $27.00 to $28.00 in a report on Monday, February 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Duke Realty Corp currently has an average rating of “Buy” and a consensus price target of $28.58.
About Duke Realty Corp
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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