State Board of Administration of Florida Retirement System decreased its holdings in Duke Realty Co. (NYSE:DRE – Get Rating) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 490,194 shares of the real estate investment trust’s stock after selling 2,018 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Duke Realty worth $28,461,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in DRE. National Bank of Canada FI purchased a new position in shares of Duke Realty in the fourth quarter worth approximately $79,000. Janney Montgomery Scott LLC boosted its holdings in shares of Duke Realty by 13.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,618 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 1,033 shares during the last quarter. National Asset Management Inc. purchased a new position in Duke Realty during the fourth quarter valued at approximately $234,000. Allspring Global Investments Holdings LLC purchased a new position in Duke Realty during the fourth quarter valued at approximately $7,075,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Duke Realty by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 22,180 shares of the real estate investment trust’s stock valued at $1,455,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on DRE. Mizuho lowered their price target on shares of Duke Realty from $65.00 to $58.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Edward Jones downgraded shares of Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Wells Fargo & Company lowered their price target on shares of Duke Realty from $59.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, June 6th. Robert W. Baird cut shares of Duke Realty from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $74.00 in a research report on Thursday, July 14th. Finally, BMO Capital Markets upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $68.00 to $65.00 in a research report on Monday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.40.
Duke Realty Trading Up 0.6 %
DRE stock opened at $62.12 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 1.21. Duke Realty Co. has a twelve month low of $47.12 and a twelve month high of $66.22. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 4.17 and a beta of 0.71. The firm’s fifty day simple moving average is $56.16 and its two-hundred day simple moving average is $55.81.
Duke Realty (NYSE:DRE – Get Rating) last issued its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The company had revenue of $280.15 million for the quarter, compared to analysts’ expectations of $279.80 million. Duke Realty had a net margin of 85.63% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, analysts anticipate that Duke Realty Co. will post 1.92 earnings per share for the current year.
Duke Realty Company Profile
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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