Mackay Shields LLC increased its stake in shares of Duke Realty Corp (NYSE:DRE) by 359.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 247,242 shares of the real estate investment trust’s stock after acquiring an additional 193,394 shares during the period. Mackay Shields LLC owned about 0.07% of Duke Realty worth $8,398,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DRE. Nuveen Asset Management LLC raised its holdings in Duke Realty by 49.9% during the second quarter. Nuveen Asset Management LLC now owns 6,966,704 shares of the real estate investment trust’s stock worth $220,217,000 after acquiring an additional 2,320,405 shares in the last quarter. Long Pond Capital LP bought a new stake in Duke Realty in the second quarter valued at approximately $37,067,000. Citadel Advisors LLC raised its stake in Duke Realty by 1,428.5% in the second quarter. Citadel Advisors LLC now owns 829,541 shares of the real estate investment trust’s stock valued at $26,222,000 after buying an additional 775,269 shares during the period. Janus Henderson Group PLC raised its stake in Duke Realty by 146.5% in the second quarter. Janus Henderson Group PLC now owns 1,134,710 shares of the real estate investment trust’s stock valued at $35,855,000 after buying an additional 674,355 shares during the period. Finally, California Public Employees Retirement System raised its stake in Duke Realty by 25.0% in the second quarter. California Public Employees Retirement System now owns 2,650,358 shares of the real estate investment trust’s stock valued at $83,778,000 after buying an additional 530,511 shares during the period. Institutional investors and hedge funds own 93.47% of the company’s stock.
Several research firms have issued reports on DRE. Barclays set a $35.00 price objective on Duke Realty and gave the company a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Co upped their price objective on Duke Realty from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Stifel Nicolaus upped their price objective on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley lowered Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price objective on the stock. in a research note on Monday, October 7th. Finally, ValuEngine downgraded Duke Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Duke Realty currently has a consensus rating of “Buy” and an average target price of $39.03.
In related news, EVP Peter D. Harrington sold 10,297 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total transaction of $342,890.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.
Shares of Duke Realty stock traded up $0.14 on Friday, hitting $34.76. The stock had a trading volume of 59,964 shares, compared to its average volume of 2,487,525. Duke Realty Corp has a twelve month low of $24.67 and a twelve month high of $36.04. The business’s 50 day moving average is $34.13 and its two-hundred day moving average is $32.56. The company has a quick ratio of 1.90, a current ratio of 2.26 and a debt-to-equity ratio of 0.55. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 5.38 and a beta of 0.69.
Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.37 by $0.25. The company had revenue of $215.37 million for the quarter, compared to the consensus estimate of $215.83 million. Duke Realty had a return on equity of 8.49% and a net margin of 40.04%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, equities analysts predict that Duke Realty Corp will post 1.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.94 dividend on an annualized basis and a yield of 2.70%. This is an increase from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s dividend payout ratio is currently 64.66%.
Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 153 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.
Read More: How dollar cost averaging works
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.