Axa raised its holdings in Duke Realty Corp (NYSE:DRE) by 324.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 887,607 shares of the real estate investment trust’s stock after acquiring an additional 678,543 shares during the quarter. Axa owned 0.25% of Duke Realty worth $25,581,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its holdings in 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 last quarter. First Personal Financial Services lifted its holdings in 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 last quarter. Advisor Group Inc. lifted its holdings in 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 last quarter. Toronto Dominion Bank lifted its holdings in 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 last quarter. Finally, Fiduciary Trust Co. acquired a new stake in Duke Realty in the 2nd quarter valued at about $201,000. 94.09% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the stock. J P Morgan Chase & Co downgraded shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target for the company. in a report on Friday. BMO Capital Markets initiated coverage on shares of Duke Realty in a report on Monday, September 11th. They issued a “market perform” rating and a $30.00 price target for the company. Citigroup upgraded Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday. BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Duke Realty has an average rating of “Hold” and an average target price of $29.67.
Duke Realty (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $169.61 million for the quarter, compared to the consensus estimate of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. equities analysts expect that Duke Realty Corp will post 1.24 earnings per share for the current year.
The business also recently disclosed a special dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were issued a dividend of $0.85 per share. This represents a yield of 2.74%. The ex-dividend date was 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%.
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About Duke Realty
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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