Tredje AP fonden decreased its holdings in Duke Realty Corp (NYSE:DRE) by 43.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,400 shares of the real estate investment trust’s stock after selling 16,910 shares during the quarter. Tredje AP fonden’s holdings in Duke Realty were worth $646,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. acquired a new position in Duke Realty in the 2nd quarter worth about $7,968,000. Virtu KCG Holdings LLC purchased a new stake in Duke Realty during the 2nd quarter worth approximately $815,000. Prudential Financial Inc. increased its stake in Duke Realty by 18.1% during the 2nd quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock worth $75,141,000 after buying an additional 411,563 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Duke Realty by 17.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,663 shares of the real estate investment trust’s stock worth $3,205,000 after buying an additional 16,758 shares in the last quarter. Finally, Boston Partners purchased a new stake in Duke Realty during the 3rd quarter worth approximately $93,065,000. 94.09% of the stock is owned by institutional investors.
Shares of Duke Realty Corp (NYSE DRE) opened at $27.91 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market capitalization of $9,939.89, a P/E ratio of 22.33, a PEG ratio of 5.14 and a beta of 0.90. Duke Realty Corp has a 52-week low of $23.93 and a 52-week high of $30.14.
Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $169.61 million during the quarter, compared to analyst estimates of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. sell-side analysts predict that Duke Realty Corp will post 1.24 EPS for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from Duke Realty’s previous special dividend of $0.20. This represents a dividend yield of 2.74%. Duke Realty’s dividend payout ratio is 19.18%.
Several research firms have commented on DRE. BMO Capital Markets began coverage on Duke Realty in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price objective on shares of Duke Realty in a research note on Thursday, September 21st. J P Morgan Chase & Co lowered Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Tuesday, September 26th. BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Duke Realty has an average rating of “Hold” and an average target price of $29.55.
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Duke Realty Company 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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