First Trust Advisors LP Sells 67,307 Shares of Duke Realty Corp (DRE)

First Trust Advisors LP reduced its position in Duke Realty Corp (NYSE:DRE) by 48.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,947 shares of the real estate investment trust’s stock after selling 67,307 shares during the quarter. First Trust Advisors LP’s holdings in Duke Realty were worth $2,013,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Duke Realty by 4.2% in the 2nd quarter. BlackRock Inc. now owns 39,546,166 shares of the real estate investment trust’s stock valued at $1,148,025,000 after purchasing an additional 1,585,819 shares during the last quarter. Boston Partners raised its stake in Duke Realty by 2.6% in the 2nd quarter. Boston Partners now owns 6,783,307 shares of the real estate investment trust’s stock valued at $196,920,000 after purchasing an additional 174,944 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Duke Realty by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,456,041 shares of the real estate investment trust’s stock valued at $158,388,000 after purchasing an additional 65,376 shares during the last quarter. AEW Capital Management L P raised its stake in Duke Realty by 7.4% in the 2nd quarter. AEW Capital Management L P now owns 4,812,800 shares of the real estate investment trust’s stock valued at $139,716,000 after purchasing an additional 330,800 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Duke Realty by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,307,240 shares of the real estate investment trust’s stock valued at $125,040,000 after purchasing an additional 222,120 shares during the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Melanie R. Sabelhaus sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $27.98, for a total transaction of $69,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter D. Harrington sold 16,500 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $28.98, for a total value of $478,170.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

DRE has been the subject of several recent research reports. Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Barclays restated a “hold” rating and issued a $26.00 target price on shares of Duke Realty in a report on Sunday, October 14th. SunTrust Banks set a $28.00 target price on Duke Realty and gave the company a “hold” rating in a report on Tuesday, August 7th. BMO Capital Markets restated a “hold” rating and issued a $30.00 target price on shares of Duke Realty in a report on Wednesday, October 24th. Finally, ValuEngine upgraded Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.89.

NYSE DRE opened at $28.46 on Monday. The firm has a market cap of $10.20 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 4.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.60 and a quick ratio of 2.60. Duke Realty Corp has a twelve month low of $24.30 and a twelve month high of $29.48.

Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $196.91 million during the quarter, compared to analysts’ expectations of $197.78 million. Duke Realty had a return on equity of 8.01% and a net margin of 56.94%. As a group, equities analysts expect that Duke Realty Corp will post 1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a dividend of $0.215 per share. The ex-dividend date was Wednesday, November 14th. This is a boost from Duke Realty’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.02%. Duke Realty’s dividend payout ratio is currently 69.35%.

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About Duke Realty

Duke Realty Corporation owns and operates approximately 150 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.

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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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