Tower Research Capital LLC TRC Cuts Stake in Duke Realty Corp (NYSE:DRE)

Tower Research Capital LLC TRC trimmed its position in shares of Duke Realty Corp (NYSE:DRE) by 22.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,500 shares of the real estate investment trust’s stock after selling 3,081 shares during the period. Tower Research Capital LLC TRC’s holdings in Duke Realty were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in Duke Realty by 8.7% during the 1st 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 purchasing an additional 577,829 shares during the last quarter. Geode Capital Management LLC grew its position in Duke Realty by 8.5% during the 4th 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 purchasing an additional 473,385 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Duke Realty by 3.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,112,697 shares of the real estate investment trust’s stock valued at $161,613,000 after purchasing an additional 151,116 shares during the last quarter. Panagora Asset Management Inc. grew its position in Duke Realty by 6.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 4,970,745 shares of the real estate investment trust’s stock valued at $157,125,000 after purchasing an additional 283,252 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in Duke Realty by 434.8% during the 1st 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 purchasing an additional 3,893,531 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

Shares of NYSE DRE traded up $0.06 during trading on Friday, reaching $33.42. 25,350 shares of the company traded hands, compared to its average volume of 1,632,382. The firm has a 50 day simple moving average of $33.03 and a 200-day simple moving average of $31.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $12.02 billion, a PE ratio of 25.12, a P/E/G ratio of 5.22 and a beta of 0.73. Duke Realty Corp has a 52-week low of $24.67 and a 52-week high of $33.83.

Duke Realty (NYSE:DRE) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The company had revenue of $213.11 million for the quarter, compared to analysts’ expectations of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. As a group, research analysts predict that Duke Realty Corp will post 1.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, August 14th. Duke Realty’s payout ratio is presently 64.66%.

Several analysts recently commented on the stock. Scotiabank raised shares of Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Zacks Investment Research downgraded shares of Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research report on Wednesday, June 19th. Finally, Stifel Nicolaus increased their price objective on shares of Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.35.

In other news, EVP Nicholas C. Anthony sold 7,806 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.61, for a total transaction of $254,553.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter D. Harrington sold 10,297 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total transaction of $342,890.10. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Duke Realty 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.

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Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corp (NYSE:DRE).

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

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