Goldman Sachs Group Inc. decreased its position in shares of Duke Realty Corp (NYSE:DRE) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,570,215 shares of the real estate investment trust’s stock after selling 1,009,866 shares during the quarter. Goldman Sachs Group Inc. owned about 1.28% of Duke Realty worth $124,355,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in DRE. Delpha Capital Management LLC bought a new position in Duke Realty during the 4th quarter worth approximately $121,000. Itau Unibanco Holding S.A. bought a new position in Duke Realty during the 4th quarter worth approximately $132,000. Zeke Capital Advisors LLC bought a new position in Duke Realty during the 3rd quarter worth approximately $211,000. Synovus Financial Corp bought a new position in Duke Realty during the 3rd quarter worth approximately $212,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Duke Realty during the 3rd quarter worth approximately $228,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Duke Realty Corp (NYSE:DRE) opened at $25.60 on Wednesday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.53. Duke Realty Corp has a fifty-two week low of $24.30 and a fifty-two week high of $30.14. The stock has a market cap of $9,185.34, a P/E ratio of 5.61, a PEG ratio of 4.64 and a beta of 0.80.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a $0.20 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.13%. Duke Realty’s dividend payout ratio (DPR) is presently 17.54%.
In other news, Director Charles R. Eitel sold 5,242 shares of Duke Realty stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $24.96, for a total value of $130,840.32. Following the sale, the director now directly owns 4,927 shares in the company, valued at $122,977.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.
A number of research analysts have weighed in on DRE shares. Citigroup raised shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, December 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price target on shares of Duke Realty in a research note on Thursday, December 14th. JPMorgan Chase & Co. lowered shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research note on Friday, December 15th. Royal Bank of Canada lowered shares of Duke Realty from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $29.00 to $31.00 in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research lowered shares of Duke Realty from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $29.82.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/03/14/duke-realty-corp-dre-position-trimmed-by-goldman-sachs-group-inc.html.
About Duke Realty
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.
Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corp (NYSE:DRE).
Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.