Van ECK Associates Corp Acquires 823 Shares of Duke Realty Co. (NYSE:DRE)

Van ECK Associates Corp grew its holdings in Duke Realty Co. (NYSE:DRE) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,231 shares of the real estate investment trust’s stock after purchasing an additional 823 shares during the period. Van ECK Associates Corp’s holdings in Duke Realty were worth $2,525,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DRE. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Duke Realty by 30.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,906 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 3,741 shares during the period. Boston Partners raised its stake in Duke Realty by 1.4% during the 4th quarter. Boston Partners now owns 4,401,499 shares of the real estate investment trust’s stock valued at $175,928,000 after purchasing an additional 59,526 shares during the period. US Bancorp DE raised its stake in Duke Realty by 62.0% during the 4th quarter. US Bancorp DE now owns 19,327 shares of the real estate investment trust’s stock valued at $772,000 after purchasing an additional 7,394 shares during the period. FIL Ltd raised its stake in Duke Realty by 31.8% during the 4th quarter. FIL Ltd now owns 165,737 shares of the real estate investment trust’s stock valued at $6,624,000 after purchasing an additional 39,999 shares during the period. Finally, CIBC World Markets Inc. bought a new stake in Duke Realty during the 4th quarter valued at approximately $389,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Shares of DRE opened at $47.84 on Friday. The stock’s 50-day moving average is $46.61. The firm has a market cap of $17.94 billion, a P/E ratio of 30.33, a P/E/G ratio of 4.14 and a beta of 0.53. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 1.09. Duke Realty Co. has a fifty-two week low of $34.01 and a fifty-two week high of $49.72.

Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, April 28th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Duke Realty had a return on equity of 6.97% and a net margin of 34.07%. The company had revenue of $258.18 million for the quarter, compared to analyst estimates of $252.25 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts predict that Duke Realty Co. will post 1.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were issued a $0.255 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.13%. Duke Realty’s payout ratio is currently 67.11%.

A number of equities analysts recently commented on the company. Raymond James increased their price target on Duke Realty from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Zacks Investment Research cut Duke Realty from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Friday, April 16th. Morgan Stanley boosted their price objective on Duke Realty from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 20th. Royal Bank of Canada boosted their price objective on Duke Realty from $43.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 1st. Finally, Mizuho boosted their price objective on Duke Realty from $44.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, April 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.25.

In related news, EVP Nicholas C. Anthony sold 34,680 shares of the business’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $42.74, for a total value of $1,482,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark A. Denien sold 46,000 shares of the company’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $46.43, for a total transaction of $2,135,780.00. Following the completion of the transaction, the chief financial officer now owns 46,000 shares of the company’s stock, valued at approximately $2,135,780. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

Featured Article: Why is cost of goods sold important?

Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Co. (NYSE:DRE).

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

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.