Quantitative Systematic Strategies LLC increased its stake in Duke Realty Corporation (NYSE:DRE) by 39.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,832 shares of the real estate investment trust’s stock after buying an additional 11,831 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Duke Realty Corporation were worth $1,157,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Forsta AP Fonden increased its position in shares of Duke Realty Corporation by 39.2% in the second quarter. Forsta AP Fonden now owns 198,071 shares of the real estate investment trust’s stock worth $5,536,000 after buying an additional 55,800 shares during the period. Wright Investors Service Inc. increased its position in shares of Duke Realty Corporation by 8.2% in the second quarter. Wright Investors Service Inc. now owns 33,995 shares of the real estate investment trust’s stock worth $950,000 after buying an additional 2,580 shares during the period. US Bancorp DE increased its position in shares of Duke Realty Corporation by 15.9% in the second quarter. US Bancorp DE now owns 52,973 shares of the real estate investment trust’s stock worth $1,479,000 after buying an additional 7,252 shares during the period. Bollard Group LLC increased its position in shares of Duke Realty Corporation by 0.6% in the second quarter. Bollard Group LLC now owns 106,837 shares of the real estate investment trust’s stock worth $2,986,000 after buying an additional 684 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of Duke Realty Corporation by 1.5% in the second quarter. State Treasurer State of Michigan now owns 146,600 shares of the real estate investment trust’s stock worth $4,097,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.
Duke Realty Corporation (NYSE:DRE) remained flat at $28.26 during trading on Friday. The company had a trading volume of 2,083,461 shares. The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $27.20. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $29.25. The firm has a market capitalization of $10.05 billion, a P/E ratio of 29.44 and a beta of 0.94.
Duke Realty Corporation (NYSE:DRE) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $165.84 million during the quarter, compared to the consensus estimate of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities analysts anticipate that Duke Realty Corporation will post $3.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.69%. Duke Realty Corporation’s payout ratio is currently 18.86%.
DRE has been the topic of a number of recent research reports. Zacks Investment Research cut Duke Realty Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. BidaskClub raised Duke Realty Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley increased their price objective on Duke Realty Corporation from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Stifel Nicolaus increased their price objective on Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $30.00 price objective on shares of Duke Realty Corporation in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.73.
In related news, Director Peter M. Scott III sold 2,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $28.25, for a total transaction of $70,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total transaction of $866,100.00. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About Duke Realty Corporation
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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