Cubist Systematic Strategies LLC Buys New Stake in Duke Realty Corporation (DRE)
Cubist Systematic Strategies LLC bought a new stake in Duke Realty Corporation (NYSE:DRE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,783 shares of the real estate investment trust’s stock, valued at approximately $1,280,000.
A number of other institutional investors have also recently modified their holdings of DRE. Bessemer Group Inc. increased its position in Duke Realty Corporation by 4,741.6% in the 2nd quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 3,651 shares in the last quarter. First Personal Financial Services boosted its stake in Duke Realty Corporation by 1.2% during the 2nd quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 46 shares during the last quarter. Advisor Group Inc. boosted its stake in Duke Realty Corporation by 0.3% during the 2nd quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 12 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Duke Realty Corporation during the 1st quarter valued at about $132,000. Finally, Global X Management Co. LLC boosted its stake in Duke Realty Corporation by 45.2% during the 1st quarter. Global X Management Co. LLC now owns 5,562 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 1,732 shares during the last quarter. 93.65% of the stock is owned by institutional investors and hedge funds.
In other Duke Realty Corporation news, 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 transaction of $866,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.
Duke Realty Corporation (NYSE:DRE) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The business had revenue of $165.84 million during the quarter, compared to the consensus estimate of $185.25 million. During the same quarter last year, the firm earned $0.30 earnings per share.
A number of research firms have issued reports on DRE. BMO Capital Markets began coverage on Duke Realty Corporation in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price target on shares of Duke Realty Corporation in a research note on Thursday, September 21st. J P Morgan Chase & Co downgraded Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Tuesday, September 26th. BidaskClub upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research downgraded Duke Realty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.45.
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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