Bank of New York Mellon Corp cut its stake in Duke Realty Corp (NYSE:DRE) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 9,305,948 shares of the real estate investment trust’s stock after selling 58,003 shares during the period. Bank of New York Mellon Corp’s holdings in Duke Realty were worth $253,214,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in DRE. Advisor Group Inc. raised its stake in shares of Duke Realty by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 12 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Duke Realty by 12.6% during the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 488 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Duke Realty during the third quarter worth approximately $211,000. Synovus Financial Corp bought a new stake in shares of Duke Realty during the third quarter worth approximately $212,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Duke Realty during the third quarter worth approximately $228,000. 94.30% of the stock is owned by institutional investors.
Shares of Duke Realty Corp (NYSE DRE) opened at $25.47 on Wednesday. Duke Realty Corp has a 12 month low of $24.48 and a 12 month high of $30.14. The company has a quick ratio of 3.23, a current ratio of 4.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $9,070.00, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 4.68 and a beta of 0.77.
A number of research firms recently weighed in on DRE. DA Davidson reissued a “neutral” rating on shares of Duke Realty in a research note on Thursday, February 1st. Zacks Investment Research raised shares of Duke Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. BMO Capital Markets set a $30.00 price target on shares of Duke Realty and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Robert W. Baird set a $32.00 price target on shares of Duke Realty and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. downgraded shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target for the company. in a research note on Friday, December 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.82.
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Duke Realty 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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