Russell Investments Group Ltd. raised its position in Duke Realty Corp (NYSE:DRE) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,904,128 shares of the real estate investment trust’s stock after acquiring an additional 17,676 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.53% of Duke Realty worth $54,886,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. TCW Group Inc. bought a new position in Duke Realty in the third quarter valued at about $455,000. Toronto Dominion Bank increased its position in Duke Realty by 2,988.4% in the third quarter. Toronto Dominion Bank now owns 134,933 shares of the real estate investment trust’s stock worth $3,888,000 after buying an additional 130,564 shares in the last quarter. New York State Common Retirement Fund increased its position in Duke Realty by 1.5% in the third quarter. New York State Common Retirement Fund now owns 787,400 shares of the real estate investment trust’s stock worth $22,693,000 after buying an additional 12,000 shares in the last quarter. CIBC Asset Management Inc increased its position in Duke Realty by 109.3% in the third quarter. CIBC Asset Management Inc now owns 40,426 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 21,115 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Duke Realty by 14.5% in the third quarter. BNP Paribas Arbitrage SA now owns 368,878 shares of the real estate investment trust’s stock worth $10,631,000 after buying an additional 46,769 shares in the last quarter. 94.09% of the stock is currently owned by institutional investors.
Duke Realty Corp (NYSE:DRE) traded down $0.43 during trading hours on Monday, hitting $27.85. The company had a trading volume of 2,194,497 shares, compared to its average volume of 2,695,442. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.23 and a quick ratio of 3.23. Duke Realty Corp has a 12-month low of $23.93 and a 12-month high of $30.14. The stock has a market capitalization of $10,071.67, a PE ratio of 22.62, a P/E/G ratio of 5.21 and a beta of 0.90.
Duke Realty (NYSE:DRE) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The firm had revenue of $169.61 million during the quarter, compared to analysts’ expectations of $168.75 million. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. research analysts predict that Duke Realty Corp will post 1.24 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 2.74%. This is a boost from Duke Realty’s previous special dividend of $0.20. Duke Realty’s dividend payout ratio (DPR) is currently 19.18%.
A number of brokerages have commented on DRE. BMO Capital Markets began coverage on Duke Realty in a research report on Monday, September 11th. They issued a “market perform” rating and a $30.00 price target for the company. BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut Duke Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Robert W. Baird reduced their price target on Duke Realty from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $31.00 price target on shares of Duke Realty in a research report on Thursday, September 21st. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $29.55.
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About Duke Realty
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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