BlackRock Inc. Buys 3,652,025 Shares of Duke Realty Corporation (DRE)
BlackRock Inc. grew its stake in Duke Realty Corporation (NYSE:DRE) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,922,413 shares of the real estate investment trust’s stock after purchasing an additional 3,652,025 shares during the period. BlackRock Inc. owned approximately 12.91% of Duke Realty Corporation worth $1,283,532,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its holdings in shares of Duke Realty Corporation by 17.7% in the second quarter. Nationwide Fund Advisors now owns 1,060,134 shares of the real estate investment trust’s stock valued at $29,631,000 after purchasing an additional 159,782 shares during the period. Bridgewater Associates LP acquired a new position in shares of Duke Realty Corporation in the second quarter valued at approximately $1,316,000. Teachers Advisors LLC increased its holdings in shares of Duke Realty Corporation by 2.5% in the second quarter. Teachers Advisors LLC now owns 1,207,983 shares of the real estate investment trust’s stock valued at $33,763,000 after purchasing an additional 29,486 shares during the period. Symphony Asset Management LLC increased its holdings in shares of Duke Realty Corporation by 14.6% in the second quarter. Symphony Asset Management LLC now owns 22,742 shares of the real estate investment trust’s stock valued at $636,000 after purchasing an additional 2,900 shares during the period. Finally, Riverhead Capital Management LLC increased its holdings in shares of Duke Realty Corporation by 63.8% in the second quarter. Riverhead Capital Management LLC now owns 20,469 shares of the real estate investment trust’s stock valued at $572,000 after purchasing an additional 7,969 shares during the period. 93.69% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Duke Realty Corporation in a report on Monday, September 11th. They issued a “market perform” rating and a $30.00 target price on the stock. BidaskClub raised Duke Realty Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Barclays PLC dropped their target price on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Morgan Stanley boosted their target price on Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Finally, Bank of America Corporation lowered Duke Realty Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $30.00 in a report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.91.
In related news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total value of $866,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.
Shares of Duke Realty Corporation (DRE) opened at 29.57 on Friday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 7.29 and a beta of 0.93. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $30.14. The company has a 50 day moving average price of $29.12 and a 200-day moving average price of $27.92.
Duke Realty Corporation (NYSE:DRE) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. The firm had revenue of $165.84 million for the quarter, compared to analysts’ expectations of $185.25 million. During the same period last year, the firm earned $0.30 EPS. On average, equities research analysts forecast that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 16th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.57%. The ex-dividend date was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio is currently 18.86%.
Duke Realty Corporation Profile
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.
Receive News & Ratings for Duke Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.