Wambolt & Associates LLC boosted its position in Duke Realty Corp (NYSE:DRE) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,261 shares of the real estate investment trust’s stock after buying an additional 1,164 shares during the quarter. Wambolt & Associates LLC’s holdings in Duke Realty were worth $672,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. PGGM Investments increased its holdings in Duke Realty by 106.7% in the first quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock valued at $425,158,000 after buying an additional 7,175,343 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Duke Realty by 8.7% in the first quarter. Principal Financial Group Inc. now owns 7,246,115 shares of the real estate investment trust’s stock valued at $221,586,000 after buying an additional 577,829 shares during the last quarter. Geode Capital Management LLC increased its holdings in Duke Realty by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 6,044,402 shares of the real estate investment trust’s stock valued at $156,339,000 after buying an additional 473,385 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in Duke Realty by 434.8% in the first quarter. Centersquare Investment Management LLC now owns 4,789,011 shares of the real estate investment trust’s stock valued at $146,448,000 after buying an additional 3,893,531 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Duke Realty by 21.0% in the first quarter. California Public Employees Retirement System now owns 2,119,847 shares of the real estate investment trust’s stock valued at $64,825,000 after buying an additional 367,919 shares during the last quarter. 93.62% of the stock is owned by hedge funds and other institutional investors.
DRE stock traded down $0.06 during midday trading on Wednesday, reaching $32.68. The company had a trading volume of 75,878 shares, compared to its average volume of 2,062,318. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.90 and a quick ratio of 2.38. The stock’s 50 day moving average price is $32.63. Duke Realty Corp has a fifty-two week low of $24.67 and a fifty-two week high of $33.83. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 5.25 and a beta of 0.73.
Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.15). Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The company had revenue of $213.11 million during the quarter, compared to analyst estimates of $212.46 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, analysts anticipate that Duke Realty Corp will post 1.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.86 dividend on an annualized basis and a yield of 2.63%. Duke Realty’s payout ratio is currently 64.66%.
Several brokerages recently weighed in on DRE. Bank of America lowered 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. Scotiabank raised Duke Realty from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Stifel Nicolaus boosted their price objective on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BTIG Research lifted their target price on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.20.
In other Duke Realty news, EVP Nicholas C. Anthony sold 7,806 shares of Duke Realty stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.
Duke Realty Company 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.
Further Reading: Portfolio Manager
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