Advisors Asset Management Inc. raised its position in shares of Duke Realty Corporation (NYSE:DRE) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,163 shares of the real estate investment trust’s stock after purchasing an additional 2,492 shares during the period. Advisors Asset Management Inc.’s holdings in Duke Realty were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in shares of Duke Realty by 4,741.6% in the 2nd quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 3,651 shares during the period. First Personal Financial Services increased its holdings in shares of Duke Realty by 1.2% in the 2nd quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 46 shares during the period. Advisor Group Inc. increased its holdings in shares of Duke Realty by 0.3% in the 2nd quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 12 shares during the period. Toronto Dominion Bank increased its holdings in shares of Duke Realty by 12.6% in the 2nd quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 488 shares during the period. Finally, Fiduciary Trust Co. purchased a new position in shares of Duke Realty in the 2nd quarter valued at $201,000. 94.10% of the stock is owned by institutional investors and hedge funds.
Duke Realty Corporation (DRE) opened at $28.65 on Thursday. Duke Realty Corporation has a one year low of $23.93 and a one year high of $30.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a market capitalization of $10,328.09, a price-to-earnings ratio of 23.20, a P/E/G ratio of 5.35 and a beta of 0.92.
Duke Realty (NYSE:DRE) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The firm had revenue of $169.61 million for the quarter, compared to the consensus estimate of $168.75 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts predict that Duke Realty Corporation will post 1.24 earnings per share for the current year.
The company also recently declared a special dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.85 per share. This represents a yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Duke Realty’s previous special dividend of $0.20. Duke Realty’s payout ratio is presently 19.18%.
DRE has been the topic of a number of analyst reports. Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $31.00 target price on shares of Duke Realty in a research note on Thursday, September 21st. Robert W. Baird dropped their target price on Duke Realty from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 31st. 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 target price on the stock. Finally, BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target 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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