Private Advisor Group LLC Takes Position in Duke Realty Corp. (DRE)
Private Advisor Group LLC bought a new stake in Duke Realty Corp. (NYSE:DRE) during the second quarter, according to its most recent filing with the SEC. The fund bought 9,063 shares of the real estate investment trust’s stock, valued at approximately $242,000.
A number of other hedge funds have also recently added to or reduced their stakes in DRE. JPMorgan Chase & Co. boosted its stake in Duke Realty Corp. by 80.3% in the second quarter. JPMorgan Chase & Co. now owns 8,181,796 shares of the real estate investment trust’s stock valued at $218,126,000 after buying an additional 3,643,842 shares during the last quarter. Norges Bank bought a new stake in shares of Duke Realty Corp. during the fourth quarter valued at about $34,919,000. Bank of New York Mellon Corp boosted its stake in shares of Duke Realty Corp. by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 12,663,874 shares of the real estate investment trust’s stock valued at $337,620,000 after buying an additional 1,470,611 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Duke Realty Corp. during the second quarter valued at about $22,085,000. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Duke Realty Corp. by 425.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 952,887 shares of the real estate investment trust’s stock valued at $25,404,000 after buying an additional 771,573 shares in the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Duke Realty Corp. (NYSE:DRE) traded up 0.15% during trading on Friday, reaching $27.44. 486,747 shares of the company’s stock were exchanged. The firm has a market capitalization of $9.62 billion, a P/E ratio of 37.95 and a beta of 1.14. The company has a 50 day moving average of $27.73 and a 200 day moving average of $24.99. Duke Realty Corp. has a 52-week low of $18.52 and a 52-week high of $28.99.
Duke Realty Corp. (NYSE:DRE) last issued its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business earned $200.50 million during the quarter, compared to the consensus estimate of $202.67 million. Duke Realty Corp. had a net margin of 27.88% and a return on equity of 7.51%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts anticipate that Duke Realty Corp. will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.63%. Duke Realty Corp.’s dividend payout ratio (DPR) is presently 100.00%.
DRE has been the subject of several research reports. Barclays PLC boosted their price objective on shares of Duke Realty Corp. from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Citigroup Inc. boosted their price objective on shares of Duke Realty Corp. from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Morgan Stanley reissued a “buy” rating and set a $31.00 price objective on shares of Duke Realty Corp. in a research note on Wednesday, September 7th. RBC Capital Markets reissued an “outperform” rating and set a $30.00 price objective (up from $24.00) on shares of Duke Realty Corp. in a research note on Monday, August 1st. Finally, Oppenheimer Holdings Inc. boosted their price objective on shares of Duke Realty Corp. from $26.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Duke Realty Corp. currently has an average rating of “Hold” and a consensus price target of $27.20.
In related news, Director Charles R. Eitel sold 3,575 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $25.94, for a total value of $92,735.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.
Duke Realty Corp. Company Profile
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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