Waratah Capital Advisors Ltd. lowered its holdings in Duke Realty Corp (NYSE:DRE) by 51.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,159 shares of the real estate investment trust’s stock after selling 130,117 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Duke Realty were worth $4,116,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of DRE. Saturna Capital CORP purchased a new stake in shares of Duke Realty during the 2nd quarter worth approximately $215,000. Nuveen Asset Management LLC lifted 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 valued at $220,217,000 after purchasing an additional 2,320,405 shares during the last quarter. State of Tennessee Treasury Department boosted its position in Duke Realty by 17.8% during the third quarter. State of Tennessee Treasury Department now owns 414,454 shares of the real estate investment trust’s stock worth $14,079,000 after purchasing an additional 62,622 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Duke Realty by 15.1% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 131,158 shares of the real estate investment trust’s stock worth $4,146,000 after purchasing an additional 17,162 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in Duke Realty during the third quarter worth about $904,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on DRE shares. Morgan Stanley lowered shares of Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price target on the stock. in a research report on Monday, October 7th. Wells Fargo & Co raised their price objective on shares of Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Barclays set a $35.00 price objective on shares of Duke Realty and gave the company a “hold” rating in a research note on Friday, October 11th. Finally, ValuEngine cut shares of Duke Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $39.03.
In other Duke Realty news, CEO James B. Connor sold 28,600 shares of Duke Realty stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.08, for a total transaction of $1,003,288.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.
Shares of DRE traded up $0.16 during midday trading on Tuesday, hitting $34.80. 47,900 shares of the company traded hands, compared to its average volume of 2,032,891. The stock has a 50-day moving average of $34.70 and a 200-day moving average of $33.08. Duke Realty Corp has a one year low of $24.67 and a one year high of $36.04. The firm has a market cap of $12.93 billion, a P/E ratio of 26.17, a PEG ratio of 5.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.26 and a quick ratio of 2.26.
Duke Realty (NYSE:DRE) last issued its quarterly earnings data 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 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%. Duke Realty’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. Sell-side analysts forecast that Duke Realty Corp will post 1.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Wednesday, November 13th. This is an increase from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s dividend payout ratio (DPR) is 70.68%.
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.
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