Teacher Retirement System of Texas lessened its holdings in Duke Realty Corp (NYSE:DRE) by 42.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,338 shares of the real estate investment trust’s stock after selling 74,465 shares during the period. Teacher Retirement System of Texas’ holdings in Duke Realty were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Eqis Capital Management Inc. increased its stake in shares of Duke Realty by 28.4% in the 4th quarter. Eqis Capital Management Inc. now owns 13,820 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 3,060 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Duke Realty by 8.8% in the 3rd quarter. Prudential Financial Inc. now owns 2,925,482 shares of the real estate investment trust’s stock worth $84,313,000 after buying an additional 237,094 shares during the last quarter. Boston Partners acquired a new stake in Duke Realty in the 3rd quarter worth about $93,065,000. Robeco Institutional Asset Management B.V. boosted its holdings in Duke Realty by 298.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 68,969 shares of the real estate investment trust’s stock worth $1,878,000 after buying an additional 51,672 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in Duke Realty by 44.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,732,853 shares of the real estate investment trust’s stock worth $78,761,000 after buying an additional 835,750 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.
Several research firms recently issued reports on DRE. Zacks Investment Research cut Duke Realty from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Royal Bank of Canada cut Duke Realty from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Wednesday, January 3rd. DA Davidson reiterated a “neutral” rating on shares of Duke Realty in a report on Thursday, February 1st. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price objective on shares of Duke Realty in a report on Thursday, December 14th. Finally, JPMorgan Chase & Co. cut Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price on the stock. in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.82.
Shares of Duke Realty Corp (NYSE DRE) opened at $25.47 on Wednesday. The company has a market cap of $9,238.89, a P/E ratio of 20.87, a PEG ratio of 4.68 and a beta of 0.77. The company has a current ratio of 4.43, a quick ratio of 3.23 and a debt-to-equity ratio of 0.53. Duke Realty Corp has a 12-month low of $24.48 and a 12-month high of $30.14.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Wednesday, February 14th. Duke Realty’s payout ratio is presently 17.54%.
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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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