The Manufacturers Life Insurance Company boosted its stake in Duke Realty Corporation (NYSE:DRE) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,623 shares of the real estate investment trust’s stock after buying an additional 8,925 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of Duke Realty Corporation worth $14,663,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of Duke Realty Corporation by 4,741.6% during the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 3,651 shares during the period. First Personal Financial Services boosted its stake in Duke Realty Corporation by 1.2% during the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 46 shares in the last quarter. Advisor Group Inc. boosted its stake in Duke Realty Corporation by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 12 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Duke Realty Corporation during the first quarter valued at about $132,000. Finally, Global X Management Co. LLC boosted its stake in Duke Realty Corporation by 45.2% during the first quarter. Global X Management Co. LLC now owns 5,562 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,732 shares in the last quarter. 93.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Duke Realty Corporation (NYSE:DRE) traded up 0.03% during midday trading on Friday, reaching $28.62. The company’s stock had a trading volume of 2,454,679 shares. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 7.05 and a beta of 0.93. The stock has a 50-day moving average of $29.14 and a 200 day moving average of $28.56. Duke Realty Corporation has a 12 month low of $22.97 and a 12 month high of $30.14.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings results 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 6.36%. The company had revenue of $169.61 million for the quarter, compared to analysts’ expectations of $168.75 million. During the same quarter in the previous year, the firm posted $0.31 EPS. Duke Realty Corporation’s revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Duke Realty Corporation will post $3.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.20 per share. This is a boost from Duke Realty Corporation’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. Duke Realty Corporation’s payout ratio is presently 18.23%.
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 transaction of $866,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
Several brokerages recently weighed in on DRE. BMO Capital Markets set a $30.00 target price on Duke Realty Corporation and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research cut Duke Realty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co cut Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 target price on shares of Duke Realty Corporation in a research note on Thursday, September 21st. Finally, BidaskClub upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Duke Realty Corporation has a consensus rating of “Hold” and an average target price of $29.45.
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About Duke Realty Corporation
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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