Stevens Capital Management LP grew its stake in Duke Realty Corporation (NYSE:DRE) by 83.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,400 shares of the real estate investment trust’s stock after purchasing an additional 141,457 shares during the quarter. Stevens Capital Management LP owned approximately 0.09% of Duke Realty Corporation worth $8,676,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its position in shares of Duke Realty Corporation by 10.0% in the first quarter. Legal & General Group Plc now owns 2,481,223 shares of the real estate investment trust’s stock valued at $65,179,000 after purchasing an additional 226,426 shares during the period. Vanguard Group Inc. grew its position in shares of Duke Realty Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock valued at $1,496,116,000 after purchasing an additional 1,744,485 shares during the period. Prudential Financial Inc. grew its position in shares of Duke Realty Corporation by 18.1% in the second quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock valued at $75,141,000 after purchasing an additional 411,563 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of Duke Realty Corporation in the second quarter valued at about $248,000. Finally, Global X Management Co. LLC grew its position in shares of Duke Realty Corporation by 74.6% in the second quarter. Global X Management Co. LLC now owns 9,714 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 4,152 shares during the period. Institutional investors and hedge funds own 93.69% of the company’s stock.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.
Duke Realty Corporation (DRE) traded down 0.44% during trading on Friday, reaching $29.57. 2,985,851 shares of the company were exchanged. The firm has a market capitalization of $10.52 billion, a PE ratio of 7.29 and a beta of 0.93. The stock has a 50 day moving average price of $29.12 and a 200 day moving average price of $27.92. Duke Realty Corporation has a 12 month low of $22.97 and a 12 month high of $30.14.
Duke Realty Corporation (NYSE:DRE) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $165.84 million during the quarter, compared to the consensus estimate of $185.25 million. During the same period last year, the firm posted $0.30 EPS. On average, analysts expect that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.76 annualized dividend and a yield of 2.57%. Duke Realty Corporation’s dividend payout ratio (DPR) is currently 18.86%.
Several analysts have recently issued reports on DRE shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Duke Realty Corporation in a research report on Wednesday, June 7th. Barclays PLC dropped their target price on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Morgan Stanley lifted their target price on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. BidaskClub lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $30.00 in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.91.
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Duke Realty Corporation Company Profile
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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