CIBC Asset Management Inc lifted its position in Duke Realty Corp (NYSE:DRE) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,715 shares of the real estate investment trust’s stock after buying an additional 2,527 shares during the period. CIBC Asset Management Inc’s holdings in Duke Realty were worth $2,255,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Duke Realty by 4.0% in the 2nd quarter. Raymond James & Associates now owns 144,047 shares of the real estate investment trust’s stock worth $5,098,000 after buying an additional 5,493 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Duke Realty by 12.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 265,022 shares of the real estate investment trust’s stock worth $9,379,000 after buying an additional 28,995 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Duke Realty by 5.4% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 68,388 shares of the real estate investment trust’s stock worth $2,420,000 after buying an additional 3,490 shares in the last quarter. Dupont Capital Management Corp raised its stake in shares of Duke Realty by 24.0% in the 2nd quarter. Dupont Capital Management Corp now owns 109,023 shares of the real estate investment trust’s stock worth $3,858,000 after buying an additional 21,135 shares in the last quarter. Finally, Wambolt & Associates LLC raised its stake in shares of Duke Realty by 19.4% in the 2nd quarter. Wambolt & Associates LLC now owns 24,577 shares of the real estate investment trust’s stock worth $870,000 after buying an additional 3,991 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.
Shares of DRE stock opened at $40.19 on Friday. Duke Realty Corp has a 1-year low of $25.19 and a 1-year high of $40.84. The company has a current ratio of 0.61, a quick ratio of 1.97 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 6.18 and a beta of 0.64. The stock’s fifty day simple moving average is $36.10 and its 200-day simple moving average is $34.60.
Duke Realty (NYSE:DRE) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Duke Realty had a net margin of 39.78% and a return on equity of 7.38%. The business had revenue of $226.37 million for the quarter, compared to analysts’ expectations of $224.54 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Duke Realty Corp will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.34%. Duke Realty’s dividend payout ratio is 65.28%.
In other news, CFO Mark A. Denien sold 4,881 shares of Duke Realty stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $37.16, for a total transaction of $181,377.96. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.
DRE has been the topic of a number of research reports. BMO Capital Markets reissued a “hold” rating and issued a $34.00 price objective on shares of Duke Realty in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Duke Realty from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their target price on Duke Realty from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Bank of America raised Duke Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $40.00 in a research report on Wednesday, May 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $37.00 target price on shares of Duke Realty in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $36.55.
Duke Realty Profile
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.
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