Illinois Municipal Retirement Fund Reduces Holdings in Duke Realty Co. (NYSE:DRE)


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Illinois Municipal Retirement Fund reduced its position in Duke Realty Co. (NYSE:DRE) by 28.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 86,935 shares of the real estate investment trust’s stock after selling 34,181 shares during the period. Illinois Municipal Retirement Fund’s holdings in Duke Realty were worth $3,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudock Inc. bought a new stake in shares of Duke Realty during the 4th quarter valued at about $26,000. Vantage Consulting Group Inc bought a new stake in Duke Realty during the fourth quarter worth approximately $28,000. Black Swift Group LLC bought a new stake in Duke Realty during the fourth quarter worth approximately $35,000. Arkadios Wealth Advisors boosted its holdings in Duke Realty by 567.6% during the first quarter. Arkadios Wealth Advisors now owns 1,816 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 1,544 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Duke Realty during the fourth quarter worth approximately $92,000. 96.64% of the stock is owned by institutional investors.

In other news, CEO James B. Connor sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $41.06, for a total value of $821,200.00. Following the completion of the transaction, the chief executive officer now owns 141,758 shares in the company, valued at $5,820,583.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas C. Anthony sold 34,680 shares of the company’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $42.74, for a total transaction of $1,482,223.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,399 shares of company stock valued at $2,457,687. 0.33% of the stock is currently owned by insiders.

A number of analysts recently weighed in on the stock. Mizuho raised their target price on shares of Duke Realty from $44.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, April 21st. Zacks Investment Research downgraded shares of Duke Realty from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research report on Friday, April 16th. Finally, Raymond James increased their target price on shares of Duke Realty from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.30.

Shares of NYSE DRE opened at $46.36 on Tuesday. Duke Realty Co. has a 1-year low of $28.80 and a 1-year high of $46.85. The company has a market cap of $17.33 billion, a PE ratio of 79.93, a P/E/G ratio of 4.87 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $43.44 and a two-hundred day moving average of $40.45.

Duke Realty (NYSE:DRE) last announced its earnings results on Wednesday, April 28th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.18). Duke Realty had a return on equity of 4.30% and a net margin of 22.76%. The company had revenue of $258.18 million during the quarter, compared to the consensus estimate of $252.25 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts forecast that Duke Realty Co. will post 1.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, May 13th. Duke Realty’s dividend payout ratio (DPR) is 70.83%.

About Duke Realty

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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