Korea Investment CORP cut its position in Duke Realty Corporation (NYSE:DRE) by 15.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 484,661 shares of the real estate investment trust’s stock after selling 91,400 shares during the period. Korea Investment CORP owned approximately 0.14% of Duke Realty Corporation worth $13,968,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Duke Realty Corporation in the second quarter valued at about $7,968,000. Virtu KCG Holdings LLC acquired a new position in shares of Duke Realty Corporation in the second quarter valued at about $815,000. Prudential Financial Inc. increased its holdings in shares of Duke Realty Corporation by 18.1% in the second quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock valued at $75,141,000 after purchasing an additional 411,563 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of Duke Realty Corporation in the second quarter valued at about $248,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Duke Realty Corporation by 17.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,663 shares of the real estate investment trust’s stock valued at $3,205,000 after purchasing an additional 16,758 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
Shares of Duke Realty Corporation (NYSE DRE) opened at 28.34 on Tuesday. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 6.98 and a beta of 0.93. The company’s 50-day moving average price is $29.07 and its 200 day moving average price is $28.59. Duke Realty Corporation has a 12-month low of $22.97 and a 12-month high of $30.14.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. Duke Realty Corporation had a return on equity of 6.36% and a net margin of 178.66%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. On average, equities research analysts forecast that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.20 per share. This is a boost from Duke Realty Corporation’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.80 annualized dividend and a yield of 2.82%. Duke Realty Corporation’s payout ratio is presently 18.23%.
A number of brokerages have recently weighed in on DRE. Zacks Investment Research raised Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday. BMO Capital Markets set a $30.00 target price on Duke Realty Corporation and gave the stock a “hold” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co lowered Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Tuesday, September 26th. BidaskClub raised Duke Realty Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 target price on shares of Duke Realty Corporation in a report on Thursday, September 21st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $29.45.
Duke Realty Corporation 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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