Royal London Asset Management Ltd. decreased its position in shares of Duke Realty Corp (NYSE:DRE) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,119 shares of the real estate investment trust’s stock after selling 9,350 shares during the period. Royal London Asset Management Ltd.’s holdings in Duke Realty were worth $4,471,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. PGGM Investments lifted its stake in Duke Realty by 106.7% in the first quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock worth $425,158,000 after purchasing an additional 7,175,343 shares during the last quarter. Norges Bank bought a new stake in shares of Duke Realty during the fourth quarter valued at approximately $93,469,000. JPMorgan Chase & Co. raised its stake in shares of Duke Realty by 253.8% during the third quarter. JPMorgan Chase & Co. now owns 2,544,914 shares of the real estate investment trust’s stock valued at $72,199,000 after acquiring an additional 1,825,535 shares in the last quarter. Millennium Management LLC raised its stake in shares of Duke Realty by 176.6% during the fourth quarter. Millennium Management LLC now owns 2,363,114 shares of the real estate investment trust’s stock valued at $61,205,000 after acquiring an additional 1,508,876 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Duke Realty by 2,458.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,002,434 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 963,250 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.
In related news, Director Melanie R. Sabelhaus sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.89, for a total transaction of $154,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann C. Dee sold 18,334 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $29.77, for a total transaction of $545,803.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,334 shares of company stock valued at $998,453. Insiders own 0.29% of the company’s stock.
NYSE DRE traded down $0.64 on Wednesday, reaching $29.97. 2,482,448 shares of the company’s stock traded hands, compared to its average volume of 1,571,397. The company has a market capitalization of $11.03 billion, a PE ratio of 22.53, a P/E/G ratio of 4.53 and a beta of 0.75. Duke Realty Corp has a fifty-two week low of $24.67 and a fifty-two week high of $31.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 2.38.
Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $209.97 million during the quarter, compared to the consensus estimate of $205.45 million. Duke Realty had a net margin of 36.32% and a return on equity of 7.37%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Research analysts expect that Duke Realty Corp will post 1.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be given a $0.215 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.87%. Duke Realty’s dividend payout ratio (DPR) is currently 64.66%.
Several brokerages recently issued reports on DRE. Zacks Investment Research lowered shares of Duke Realty from a “hold” rating to a “sell” rating in a report on Monday, April 15th. BTIG Research lifted their price objective on shares of Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Bank of America lowered shares of Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 price target on the stock. in a report on Thursday, May 16th. Goldman Sachs Group assumed coverage on shares of Duke Realty in a report on Wednesday, May 15th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 price target on shares of Duke Realty in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Duke Realty currently has a consensus rating of “Buy” and a consensus price target of $35.35.
Duke Realty 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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