Duke Realty Corporation (DRE) Shares Bought by Amalgamated Bank
Amalgamated Bank increased its stake in shares of Duke Realty Corporation (NYSE:DRE) by 27.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,850 shares of the real estate investment trust’s stock after acquiring an additional 14,846 shares during the quarter. Amalgamated Bank’s holdings in Duke Realty Corporation were worth $1,952,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Duke Realty Corporation by 8.6% during the second quarter. BlackRock Inc. now owns 45,922,413 shares of the real estate investment trust’s stock worth $1,283,532,000 after acquiring an additional 3,652,025 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Duke Realty Corporation by 17.7% during the second quarter. Nationwide Fund Advisors now owns 1,060,134 shares of the real estate investment trust’s stock worth $29,631,000 after acquiring an additional 159,782 shares in the last quarter. Bridgewater Associates LP bought a new position in Duke Realty Corporation during the second quarter worth $1,316,000. Teachers Advisors LLC boosted its stake in Duke Realty Corporation by 2.5% during the second quarter. Teachers Advisors LLC now owns 1,207,983 shares of the real estate investment trust’s stock worth $33,763,000 after acquiring an additional 29,486 shares in the last quarter. Finally, Symphony Asset Management LLC boosted its stake in Duke Realty Corporation by 14.6% during the second quarter. Symphony Asset Management LLC now owns 22,742 shares of the real estate investment trust’s stock worth $636,000 after acquiring an additional 2,900 shares in the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $30.00 in a research note on Friday, June 23rd. BidaskClub downgraded shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Barclays PLC lowered their price objective on shares of 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. Royal Bank Of Canada restated a “buy” rating and set a $30.00 price objective on shares of Duke Realty Corporation in a report on Wednesday, June 7th. Finally, Stifel Nicolaus upped their price objective on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Duke Realty Corporation has an average rating of “Hold” and an average price target of $28.91.
Shares of Duke Realty Corporation (NYSE:DRE) opened at 29.58 on Tuesday. The stock has a market cap of $10.52 billion, a P/E ratio of 7.29 and a beta of 0.93. Duke Realty Corporation has a one year low of $22.97 and a one year high of $30.14. The stock has a 50 day moving average of $29.14 and a 200 day moving average of $27.98.
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. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. The business had revenue of $165.84 million during the quarter, compared to analyst estimates of $185.25 million. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, analysts forecast that Duke Realty Corporation will post $3.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio (DPR) is 18.86%.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.
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.
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