Quantbot Technologies LP Invests $1.17 Million in Duke Realty Corporation (DRE)
Quantbot Technologies LP acquired a new stake in Duke Realty Corporation (NYSE:DRE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 40,699 shares of the real estate investment trust’s stock, valued at approximately $1,172,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Duke Realty Corporation by 0.4% during the second quarter. Vanguard Group Inc. now owns 57,188,532 shares of the real estate investment trust’s stock worth $1,598,419,000 after purchasing an additional 237,017 shares during the last quarter. BlackRock Inc. lifted 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 purchasing an additional 3,652,025 shares during the last quarter. State Street Corp lifted its stake in Duke Realty Corporation by 0.4% during the second quarter. State Street Corp now owns 18,201,618 shares of the real estate investment trust’s stock worth $508,725,000 after purchasing an additional 76,304 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Duke Realty Corporation by 30.5% during the second quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock worth $226,671,000 after purchasing an additional 1,894,749 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Duke Realty Corporation by 10.7% during the second quarter. Northern Trust Corp now owns 5,491,114 shares of the real estate investment trust’s stock worth $153,477,000 after purchasing an additional 531,415 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.
DRE has been the subject of several recent analyst reports. Zacks Investment Research cut Duke Realty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BMO Capital Markets initiated coverage on Duke Realty Corporation in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 target price for the company. Stifel Nicolaus restated a “buy” rating and set a $31.00 target price on shares of Duke Realty Corporation in a research note on Thursday, September 21st. BidaskClub upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Robert W. Baird decreased their target price on Duke Realty Corporation from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Duke Realty Corporation has an average rating of “Hold” and an average price target of $29.55.
Shares of Duke Realty Corporation (NYSE:DRE) traded up $0.07 during midday trading on Tuesday, reaching $28.91. The company’s stock had a trading volume of 1,772,400 shares, compared to its average volume of 2,717,491. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.23 and a current ratio of 3.23. Duke Realty Corporation has a one year low of $23.93 and a one year high of $30.14. The stock has a market capitalization of $10,271.10, a PE ratio of 23.07, a P/E/G ratio of 5.32 and a beta of 0.92.
Duke Realty Corporation (NYSE:DRE) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Duke Realty Corporation had a return on equity of 6.36% and a net margin of 178.66%. The company had revenue of $169.61 million during the quarter, compared to analysts’ expectations of $168.75 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. equities analysts predict that Duke Realty Corporation will post 1.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. This is a boost from Duke Realty Corporation’s previous quarterly dividend of $0.19. Duke Realty Corporation’s payout ratio is currently 19.18%.
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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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