California State Teachers Retirement System trimmed its stake in Duke Realty Corporation (NYSE:DRE) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 671,295 shares of the real estate investment trust’s stock after selling 38,257 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Duke Realty Corporation worth $18,762,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Duke Realty Corporation by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 57,188,532 shares of the real estate investment trust’s stock valued at $1,598,419,000 after purchasing an additional 237,017 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Duke Realty Corporation by 8.6% in the 2nd quarter. BlackRock Inc. now owns 45,922,413 shares of the real estate investment trust’s stock valued at $1,283,532,000 after purchasing an additional 3,652,025 shares during the last quarter. State Street Corp lifted its stake in shares of Duke Realty Corporation by 0.4% in the 2nd quarter. State Street Corp now owns 18,201,618 shares of the real estate investment trust’s stock valued at $508,725,000 after purchasing an additional 76,304 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Duke Realty Corporation by 30.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock worth $226,671,000 after acquiring an additional 1,894,749 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Duke Realty Corporation by 20.2% during the 1st quarter. Nuveen Asset Management LLC now owns 6,944,579 shares of the real estate investment trust’s stock worth $182,434,000 after acquiring an additional 1,168,051 shares during the last quarter. 93.55% of the stock is owned by institutional investors and hedge funds.
DRE has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Duke Realty Corporation from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Barclays PLC decreased their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. BidaskClub raised Duke Realty Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BMO Capital Markets began coverage on Duke Realty Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $30.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 target price on shares of Duke Realty Corporation in a research report on Thursday, September 21st. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Duke Realty Corporation has a consensus rating of “Hold” and a consensus price target of $29.45.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.
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Shares of Duke Realty Corporation (NYSE DRE) traded down 0.14% during trading on Friday, hitting $28.57. The stock had a trading volume of 192,272 shares. Duke Realty Corporation has a 12-month low of $22.97 and a 12-month high of $30.14. The stock’s 50-day moving average is $29.14 and its 200-day moving average is $28.56. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 7.04 and a beta of 0.93.
Duke Realty Corporation (NYSE:DRE) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Duke Realty Corporation had a net margin of 178.66% and a return on equity of 6.71%. The firm had revenue of $169.61 million for the quarter, compared to analyst estimates of $168.75 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Duke Realty Corporation will post $3.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Duke Realty Corporation’s previous quarterly dividend of $0.19. Duke Realty Corporation’s payout ratio is currently 18.23%.
Duke Realty Corporation 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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