Royal Bank of Canada Cuts Stake in Duke Realty Corp (NYSE:DRE)

Royal Bank of Canada lowered its position in Duke Realty Corp (NYSE:DRE) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,346 shares of the real estate investment trust’s stock after selling 18,071 shares during the quarter. Royal Bank of Canada’s holdings in Duke Realty were worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DRE. Tyers Asset Management LLC boosted its stake in Duke Realty by 8.0% in the first quarter. Tyers Asset Management LLC now owns 28,622 shares of the real estate investment trust’s stock worth $875,000 after buying an additional 2,112 shares in the last quarter. Neuburgh Advisers LLC lifted its position in Duke Realty by 8.0% in the first quarter. Neuburgh Advisers LLC now owns 44,234 shares of the real estate investment trust’s stock valued at $1,352,000 after purchasing an additional 3,264 shares during the last quarter. Andra AP fonden bought a new stake in Duke Realty in the first quarter valued at approximately $5,403,000. Cleararc Capital Inc. bought a new stake in Duke Realty in the first quarter valued at approximately $266,000. Finally, Horizon Investments LLC bought a new stake in Duke Realty in the first quarter valued at approximately $200,000. 93.48% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Wednesday, June 19th. ValuEngine downgraded Duke Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley downgraded Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price objective for the company. in a research report on Monday, October 7th. Finally, Scotiabank upgraded Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Duke Realty has a consensus rating of “Buy” and an average target price of $38.26.

In related news, EVP Peter D. Harrington sold 10,297 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total value of $342,890.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas C. Anthony sold 7,806 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Shares of Duke Realty stock opened at $33.55 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.60. The company has a market cap of $12.05 billion, a PE ratio of 25.23, a P/E/G ratio of 5.24 and a beta of 0.70. The business has a 50 day moving average of $33.36 and a 200 day moving average of $32.05. Duke Realty Corp has a 52 week low of $24.67 and a 52 week high of $34.44.

Duke Realty (NYSE:DRE) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $213.11 million for the quarter, compared to the consensus estimate of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. Duke Realty’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. On average, research analysts anticipate that Duke Realty Corp will post 1.42 earnings per share for the current year.

About Duke Realty

Duke Realty Corporation owns and operates approximately 153 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index.

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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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