Nomura Asset Management Co. Ltd. reduced its stake in shares of Duke Realty Corp (NYSE:DRE) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,112 shares of the real estate investment trust’s stock after selling 25,905 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.07% of Duke Realty worth $7,353,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brookfield Asset Management Inc. acquired a new stake in Duke Realty during the 2nd quarter valued at $130,756,000. BlackRock Inc. grew its stake in shares of Duke Realty by 8.6% in the 2nd quarter. BlackRock Inc. now owns 45,922,413 shares of the real estate investment trust’s stock worth $1,283,532,000 after purchasing an additional 3,652,025 shares during the last quarter. Boston Partners acquired a new position in shares of Duke Realty in the 3rd quarter worth approximately $93,065,000. Lord Abbett & CO. LLC increased its position in shares of Duke Realty by 95.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,973,900 shares of the real estate investment trust’s stock worth $83,121,000 after acquiring an additional 1,452,100 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Duke Realty by 44.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,732,853 shares of the real estate investment trust’s stock worth $78,761,000 after acquiring an additional 835,750 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.
Shares of Duke Realty Corp (DRE) opened at $27.38 on Thursday. Duke Realty Corp has a twelve month low of $23.93 and a twelve month high of $30.14. The stock has a market capitalization of $9,744.02, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 5.04 and a beta of 0.90. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45.
The company also recently declared a special dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.85 per share. This represents a dividend yield of 2.74%. This is a positive change from Duke Realty’s previous special dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 30th. Duke Realty’s dividend payout ratio (DPR) is presently 19.18%.
Several research firms recently commented on DRE. Zacks Investment Research cut shares of Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price target on shares of Duke Realty in a research report on Thursday, September 21st. Robert W. Baird dropped their target price on shares of Duke Realty from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 31st. BMO Capital Markets began coverage on shares of Duke Realty in a research report on Monday, September 11th. They set a “market perform” rating and a $30.00 target price on the stock. Finally, BidaskClub raised shares of Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.55.
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Duke Realty 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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