State Board of Administration of Florida Retirement System trimmed its position in shares of Duke Realty Corp (NYSE:DRE) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,828 shares of the real estate investment trust’s stock after selling 2,640 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Duke Realty were worth $15,101,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DRE. PGGM Investments increased its holdings in Duke Realty by 106.7% in the 1st quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock valued at $425,158,000 after acquiring an additional 7,175,343 shares during the last quarter. Norges Bank bought a new stake in Duke Realty in the 4th quarter valued at $93,469,000. JPMorgan Chase & Co. increased its holdings in Duke Realty by 253.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,544,914 shares of the real estate investment trust’s stock valued at $72,199,000 after acquiring an additional 1,825,535 shares during the last quarter. Millennium Management LLC increased its holdings in Duke Realty by 176.6% in the 4th quarter. Millennium Management LLC now owns 2,363,114 shares of the real estate investment trust’s stock valued at $61,205,000 after acquiring an additional 1,508,876 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Duke Realty by 2,458.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,002,434 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 963,250 shares during the last quarter. Institutional investors own 94.55% of the company’s stock.
In related news, Director Melanie R. Sabelhaus sold 5,000 shares of Duke Realty stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.89, for a total transaction of $154,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann C. Dee sold 18,334 shares of Duke Realty stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $29.77, for a total transaction of $545,803.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,409 shares of company stock valued at $1,150,145. 0.29% of the stock is owned by corporate insiders.
DRE stock opened at $30.44 on Thursday. Duke Realty Corp has a 12 month low of $24.67 and a 12 month high of $31.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market cap of $10.94 billion, a P/E ratio of 22.89, a PEG ratio of 4.55 and a beta of 0.75.
Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Duke Realty had a net margin of 36.32% and a return on equity of 7.37%. The firm had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $205.45 million. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts expect that Duke Realty Corp will post 1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be paid a dividend of $0.215 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.83%. Duke Realty’s dividend payout ratio is presently 64.66%.
DRE has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Duke Realty from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. BTIG Research lifted their price objective on shares of Duke Realty from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. BMO Capital Markets reissued a “buy” rating and issued a $30.00 price objective on shares of Duke Realty in a research note on Wednesday, January 30th. Barclays reissued a “hold” rating and issued a $28.00 price objective on shares of Duke Realty in a research note on Thursday, February 14th. Finally, Bank of America cut shares of Duke Realty from a “buy” rating to a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.80.
Duke Realty Profile
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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