Alps Advisors Inc. acquired a new stake in shares of Duke Realty Corporation (NYSE:DRE) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 30,185 shares of the real estate investment trust’s stock, valued at approximately $844,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Personal Financial Services raised its position in Duke Realty Corporation by 117.6% in the first quarter. First Personal Financial Services now owns 3,885 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 2,100 shares in the last quarter. Toronto Dominion Bank raised its position in Duke Realty Corporation by 9.6% in the first quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 341 shares in the last quarter. Bessemer Group Inc. raised its position in Duke Realty Corporation by 4,741.6% in the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 3,651 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Duke Realty Corporation during the first quarter valued at $132,000. Finally, Global X Management Co. LLC raised its position in Duke Realty Corporation by 45.2% in the first quarter. Global X Management Co. LLC now owns 5,562 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,732 shares in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
Shares of Duke Realty Corporation (DRE) opened at 28.86 on Friday. The firm has a 50-day moving average of $28.28 and a 200 day moving average of $27.33. Duke Realty Corporation has a 52-week low of $22.97 and a 52-week high of $29.25. The company has a market capitalization of $10.27 billion, a P/E ratio of 7.11 and a beta of 0.94.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The company had revenue of $165.84 million for the quarter, compared to the consensus estimate of $185.25 million. During the same period last year, the company earned $0.30 earnings per share. On average, analysts anticipate that Duke Realty Corporation will post $3.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 16th will be issued a $0.19 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. Duke Realty Corporation’s dividend payout ratio (DPR) is presently 18.86%.
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Several research firms have weighed in on DRE. Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $30.00 in a research note on Friday, June 23rd. BidaskClub lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Barclays PLC dropped their price objective on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 price objective on shares of Duke Realty Corporation in a research note on Wednesday, June 7th. Finally, Stifel Nicolaus boosted their target price on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.73.
In other news, EVP Peter D. Harrington sold 30,000 shares of Duke Realty Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
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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