Stoneridge Investment Partners LLC bought a new position in shares of Duke Realty Corporation (NYSE:DRE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 151,049 shares of the real estate investment trust’s stock, valued at approximately $4,222,000.
A number of other large investors also recently bought and sold shares of DRE. Vanguard Group Inc. boosted its stake in shares of Duke Realty Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock worth $1,496,116,000 after buying an additional 1,744,485 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Duke Realty Corporation by 1,882.9% in the first quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock worth $1,110,444,000 after buying an additional 40,138,665 shares in the last quarter. FMR LLC boosted its stake in shares of Duke Realty Corporation by 1.5% in the first quarter. FMR LLC now owns 42,040,885 shares of the real estate investment trust’s stock worth $1,104,415,000 after buying an additional 635,211 shares in the last quarter. State Street Corp boosted its stake in shares of Duke Realty Corporation by 0.8% in the first quarter. State Street Corp now owns 18,125,314 shares of the real estate investment trust’s stock worth $476,150,000 after buying an additional 149,171 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Duke Realty Corporation by 30.5% in the second quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock worth $226,671,000 after buying an additional 1,894,749 shares in the last quarter. Institutional investors own 92.52% of the company’s stock.
Duke Realty Corporation (NYSE:DRE) opened at 28.86 on Friday. The stock’s 50 day moving average price is $28.28 and its 200 day moving average price is $27.33. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 7.11 and a beta of 0.94. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $29.25.
Duke Realty Corporation (NYSE:DRE) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million for the quarter, compared to the consensus estimate of $185.25 million. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. During the same period in the previous year, the business earned $0.30 EPS. On average, equities research analysts predict that Duke Realty Corporation will post $3.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, August 14th. Duke Realty Corporation’s payout ratio is presently 18.86%.
A number of research firms recently issued reports on DRE. Stifel Nicolaus lifted their target price on Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. BidaskClub raised Duke Realty Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Bank of America Corporation lowered Duke Realty Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $30.00 in a research report on Friday, June 23rd. Finally, Barclays PLC reduced their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.73.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of Duke Realty Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total transaction of $866,100.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.
Duke Realty Corporation 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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