Mitsubishi UFJ Trust & Banking Corp decreased its stake in Duke Realty Corp (NYSE:DRE) by 61.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 271,025 shares of the real estate investment trust’s stock after selling 437,331 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Duke Realty worth $7,689,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in DRE. Stratos Wealth Partners LTD. acquired a new stake in shares of Duke Realty in the third quarter valued at about $103,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Duke Realty in the second quarter valued at about $121,000. Advisors Preferred LLC acquired a new stake in shares of Duke Realty in the second quarter valued at about $126,000. ClariVest Asset Management LLC purchased a new position in shares of Duke Realty in the third quarter worth about $162,000. Finally, Laurion Capital Management LP purchased a new position in shares of Duke Realty in the second quarter worth about $202,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
NYSE:DRE opened at $28.52 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $10.33 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 4.50 and a beta of 0.58. Duke Realty Corp has a twelve month low of $24.30 and a twelve month high of $29.48.
Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $196.91 million for the quarter, compared to the consensus estimate of $197.78 million. Duke Realty had a net margin of 56.94% and a return on equity of 8.01%. On average, research analysts anticipate that Duke Realty Corp will post 1.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were paid a dividend of $0.215 per share. The ex-dividend date was Wednesday, November 14th. This is an increase from Duke Realty’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a yield of 3.02%. Duke Realty’s payout ratio is 69.35%.
In other Duke Realty news, Director Melanie R. Sabelhaus sold 2,500 shares of Duke Realty stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $27.98, for a total transaction of $69,950.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter D. Harrington sold 16,500 shares of Duke Realty stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $28.98, for a total transaction of $478,170.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
DRE has been the topic of several research reports. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, October 3rd. Barclays reissued a “hold” rating and issued a $26.00 price target on shares of Duke Realty in a research note on Sunday, October 14th. Scotiabank initiated coverage on shares of Duke Realty in a research note on Tuesday, October 16th. They issued a “sector perform” rating on the stock. BMO Capital Markets reissued a “hold” rating and issued a $30.00 price target on shares of Duke Realty in a research note on Wednesday, October 24th. Finally, ValuEngine raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.89.
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Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 150 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index.
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