Duke Realty Corp (NYSE:DRE) Shares Sold by TCW Group Inc.

TCW Group Inc. trimmed its holdings in shares of Duke Realty Corp (NYSE:DRE) by 7.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 11,834 shares of the real estate investment trust’s stock after selling 940 shares during the period. TCW Group Inc.’s holdings in Duke Realty were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DRE. Massey Quick Simon & CO. LLC acquired a new position in shares of Duke Realty in the 1st quarter valued at about $31,000. Macroview Investment Management LLC acquired a new position in shares of Duke Realty in the 4th quarter valued at about $32,000. Capital Investment Advisory Services LLC acquired a new position in shares of Duke Realty in the 4th quarter valued at about $35,000. Private Capital Group LLC lifted its holdings in shares of Duke Realty by 27.4% in the 1st quarter. Private Capital Group LLC now owns 1,976 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 425 shares during the period. Finally, Pearl River Capital LLC acquired a new position in shares of Duke Realty in the 4th quarter valued at about $109,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

NYSE DRE opened at $31.81 on Friday. The stock has a market capitalization of $11.37 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.66 and a beta of 0.74. Duke Realty Corp has a twelve month low of $24.67 and a twelve month high of $31.86. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.60.

Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $205.45 million. Duke Realty had a return on equity of 7.37% and a net margin of 36.32%. Duke Realty’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities research analysts expect that Duke Realty Corp will post 1.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were paid a dividend of $0.215 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.86 annualized dividend and a yield of 2.70%. Duke Realty’s dividend payout ratio (DPR) is currently 64.66%.

DRE has been the subject of several analyst reports. BTIG Research boosted their price objective on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Goldman Sachs Group initiated coverage on Duke Realty in a report on Wednesday, May 15th. They issued a “buy” rating and a $33.00 price objective for the company. Barclays reissued a “hold” rating and issued a $28.00 price objective on shares of Duke Realty in a report on Thursday, February 14th. Bank of America cut Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 price objective for the company. in a report on Thursday, May 16th. Finally, Zacks Investment Research cut Duke Realty from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.35.

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About Duke Realty

Duke Realty Corporation owns and operates approximately 153 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index.

See Also: Bull Market

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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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