Lord Abbett & CO. LLC Sells 11,860 Shares of Duke Realty Co. (NYSE:DRE)

Lord Abbett & CO. LLC lessened its position in shares of Duke Realty Co. (NYSE:DRE) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 473,220 shares of the real estate investment trust’s stock after selling 11,860 shares during the quarter. Lord Abbett & CO. LLC owned 0.12% of Duke Realty worth $22,653,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG lifted its holdings in Duke Realty by 1.0% in the third quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 18,076 shares of the real estate investment trust’s stock valued at $865,000 after acquiring an additional 187 shares during the period. Utah Retirement Systems increased its position in Duke Realty by 0.3% in the second quarter. Utah Retirement Systems now owns 70,840 shares of the real estate investment trust’s stock worth $3,354,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Duke Realty by 0.9% in the third quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the real estate investment trust’s stock worth $1,130,000 after buying an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Duke Realty by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,221 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 212 shares in the last quarter. Finally, Huntington National Bank increased its position in Duke Realty by 8.3% in the third quarter. Huntington National Bank now owns 2,863 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 219 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors.

DRE has been the subject of a number of analyst reports. Royal Bank of Canada upgraded Duke Realty from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $65.00 in a research report on Friday, November 19th. Raymond James upped their price target on Duke Realty from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, January 10th. Mizuho increased their target price on Duke Realty from $50.00 to $65.00 in a research report on Thursday. Wells Fargo & Company downgraded Duke Realty from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, December 14th. Finally, BMO Capital Markets downgraded Duke Realty from an “outperform” rating to a “market perform” rating and set a $68.00 target price on the stock. in a research note on Friday, January 7th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.83.

NYSE:DRE opened at $59.81 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.99 and a quick ratio of 0.99. Duke Realty Co. has a 1 year low of $37.74 and a 1 year high of $66.22. The stock’s 50 day simple moving average is $60.75 and its two-hundred day simple moving average is $54.55. The company has a market cap of $22.78 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 4.08 and a beta of 0.64.

Duke Realty (NYSE:DRE) last released its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.86. Duke Realty had a return on equity of 16.67% and a net margin of 82.95%. The business had revenue of $256.82 million for the quarter, compared to the consensus estimate of $257.16 million. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts anticipate that Duke Realty Co. will post 1.74 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th were given a dividend of $0.28 per share. The ex-dividend date was Monday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.87%. This is an increase from Duke Realty’s previous quarterly dividend of $0.26. Duke Realty’s payout ratio is currently 46.09%.

Duke Realty Company Profile

Duke Realty Corp. operates as a real estate development company, which specializes in the ownership, management and development of industrial and medical office properties. It offers property and asset management, leasing, construction and other tenant related services. Its diversified portfolio of rental properties encompass various business houses such as government services, manufacturing, retailing, wholesale trade, distribution, healthcare and professional services.

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

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