Strs Ohio cut its stake in shares of Duke Realty Corp. (NYSE:DRE) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,224 shares of the real estate investment trust’s stock after selling 11,065 shares during the period. Strs Ohio’s holdings in Duke Realty Corp. were worth $23,306,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in DRE. State Street Corp raised its stake in Duke Realty Corp. by 3.4% in the first quarter. State Street Corp now owns 17,234,176 shares of the real estate investment trust’s stock valued at $388,464,000 after buying an additional 570,964 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Duke Realty Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 14,924,626 shares of the real estate investment trust’s stock valued at $336,401,000 after buying an additional 219,713 shares in the last quarter. Geode Capital Management LLC raised its stake in Duke Realty Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 2,659,235 shares of the real estate investment trust’s stock valued at $59,916,000 after buying an additional 110,274 shares in the last quarter. Legal & General Group Plc raised its stake in Duke Realty Corp. by 5.7% in the first quarter. Legal & General Group Plc now owns 2,090,840 shares of the real estate investment trust’s stock valued at $47,125,000 after buying an additional 113,496 shares in the last quarter. Finally, Norges Bank bought a new stake in Duke Realty Corp. during the fourth quarter valued at $34,919,000. Institutional investors own 95.86% of the company’s stock.
Shares of Duke Realty Corp. (NYSE:DRE) traded down 1.08% during mid-day trading on Tuesday, hitting $27.42. 1,499,211 shares of the company’s stock traded hands. The company has a market cap of $9.62 billion, a PE ratio of 37.93 and a beta of 1.14. Duke Realty Corp. has a 52 week low of $18.52 and a 52 week high of $28.99. The firm has a 50-day moving average of $27.68 and a 200 day moving average of $25.18.
Duke Realty Corp. (NYSE:DRE) last announced its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Duke Realty Corp. had a net margin of 27.88% and a return on equity of 7.51%. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $202.67 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that Duke Realty Corp. will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, August 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.63%. Duke Realty Corp.’s dividend payout ratio is presently 100.00%.
Several brokerages have recently commented on DRE. Barclays PLC boosted their target price on Duke Realty Corp. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. Citigroup Inc. boosted their target price on Duke Realty Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Morgan Stanley reissued a “buy” rating and issued a $31.00 target price on shares of Duke Realty Corp. in a report on Wednesday, September 7th. RBC Capital Markets reissued an “outperform” rating and issued a $30.00 target price (up from $24.00) on shares of Duke Realty Corp. in a report on Monday, August 1st. Finally, Oppenheimer Holdings Inc. boosted their target price on Duke Realty Corp. from $26.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.20.
About Duke Realty Corp.
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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