Green Street Investors LLC grew its stake in Duke Realty Corp (NYSE:DRE) by 20.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,600 shares of the real estate investment trust’s stock after acquiring an additional 47,900 shares during the period. Duke Realty accounts for about 5.7% of Green Street Investors LLC’s investment portfolio, making the stock its 5th biggest position. Green Street Investors LLC owned approximately 0.08% of Duke Realty worth $9,668,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Doyle Wealth Management acquired a new stake in shares of Duke Realty during the 2nd quarter worth approximately $25,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Duke Realty during the 2nd quarter worth approximately $36,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Duke Realty during the 2nd quarter worth approximately $38,000. CSat Investment Advisory L.P. grew its position in shares of Duke Realty by 48.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,338 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 438 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in shares of Duke Realty during the 3rd quarter worth approximately $53,000. 93.47% of the stock is owned by institutional investors.
DRE has been the subject of several analyst reports. Morgan Stanley cut shares of Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price target for the company. in a research report on Monday, October 7th. Barclays set a $35.00 price target on shares of Duke Realty and gave the stock a “hold” rating in a research report on Friday, October 11th. Stifel Nicolaus lifted their price target on shares of Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. ValuEngine cut shares of Duke Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co lifted their price target on shares of Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.03.
NYSE DRE traded down $0.03 during trading on Friday, reaching $34.59. 1,557,886 shares of the stock traded hands, compared to its average volume of 2,037,868. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 5.38 and a beta of 0.69. The stock’s 50-day moving average price is $34.16 and its 200 day moving average price is $32.59. The company has a quick ratio of 1.90, a current ratio of 2.26 and a debt-to-equity ratio of 0.55. Duke Realty Corp has a fifty-two week low of $24.67 and a fifty-two week high of $36.04.
Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.25. The firm had revenue of $215.37 million during the quarter, compared to analysts’ expectations of $215.83 million. Duke Realty had a net margin of 40.04% and a return on equity of 8.49%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Analysts anticipate that Duke Realty Corp will post 1.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued 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 2.72%. This is a boost from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s payout ratio is currently 64.66%.
In related news, EVP Peter D. Harrington sold 10,297 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total transaction of $342,890.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.
About Duke Realty
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.
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