Retirement Systems of Alabama reduced its position in shares of Duke Realty Corporation (NYSE:DRE) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 458,415 shares of the real estate investment trust’s stock after selling 614 shares during the period. Retirement Systems of Alabama’s holdings in Duke Realty Corporation were worth $12,813,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its stake in shares of Duke Realty Corporation by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 81,700 shares of the real estate investment trust’s stock worth $2,284,000 after buying an additional 209 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Duke Realty Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 7,776 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 251 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Duke Realty Corporation by 0.9% in the second quarter. Capstone Asset Management Co. now owns 34,126 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 320 shares during the period. Toronto Dominion Bank boosted its stake in shares of Duke Realty Corporation by 9.6% in the first quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 341 shares during the period. Finally, Creative Planning boosted its stake in shares of Duke Realty Corporation by 5.1% in the second quarter. Creative Planning now owns 7,495 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 362 shares during the period. 93.34% of the stock is owned by institutional investors.

Duke Realty Corporation (NYSE:DRE) opened at 28.52 on Thursday. The company has a 50 day moving average price of $28.15 and a 200 day moving average price of $27.18. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 7.03 and a beta of 0.94. Duke Realty Corporation has a 12 month low of $22.97 and a 12 month high of $29.25.

Duke Realty Corporation (NYSE:DRE) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $165.84 million during the quarter, compared to the consensus estimate of $185.25 million. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. During the same period in the previous year, the company posted $0.30 earnings per share. Analysts anticipate that Duke Realty Corporation will post $3.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be paid a $0.19 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 2.66%. Duke Realty Corporation’s dividend payout ratio (DPR) is presently 18.86%.

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A number of brokerages have recently commented on DRE. BidaskClub raised Duke Realty Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Stifel Nicolaus upped their price target on Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Bank of America Corporation cut Duke Realty Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $30.00 in a research note on Friday, June 23rd. Finally, Barclays PLC decreased their price objective on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.73.

In other Duke Realty Corporation news, Director Peter M. Scott III sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $28.25, for a total value of $70,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

About Duke Realty Corporation

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

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