California Public Employees Retirement System lifted its stake in Duke Realty Corporation (NYSE:DRE) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 810,342 shares of the real estate investment trust’s stock after buying an additional 27,000 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Duke Realty Corporation worth $22,649,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of 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 worth $104,000 after buying an additional 3,651 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of Duke Realty Corporation by 1.2% in the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 46 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Duke Realty Corporation in the first quarter worth $132,000. Global X Management Co. LLC lifted its holdings in shares of 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 worth $146,000 after buying an additional 1,732 shares in the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Duke Realty Corporation in the first quarter worth $148,000. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. BidaskClub raised shares of Duke Realty Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BMO Capital Markets started coverage on shares of Duke Realty Corporation in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation downgraded shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $30.00 in a research note on Friday, June 23rd. Finally, Barclays PLC decreased their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Duke Realty Corporation presently has a consensus rating of “Hold” and an average target price of $29.09.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.
Duke Realty Corporation (DRE) opened at 28.95 on Friday. Duke Realty Corporation has a 52-week low of $22.97 and a 52-week high of $30.14. The firm’s 50-day moving average is $29.16 and its 200-day moving average is $28.00. The company has a market cap of $10.30 billion, a PE ratio of 7.13 and a beta of 0.93.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. During the same quarter last year, the firm posted $0.30 EPS. On average, equities research analysts anticipate that Duke Realty Corporation will post $3.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were issued a $0.19 dividend. The ex-dividend date was Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 2.63%. Duke Realty Corporation’s payout ratio is currently 18.86%.
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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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