Raymond James Financial Services Advisors Inc. Has $562,000 Position in Duke Realty Corp (DRE)
Raymond James Financial Services Advisors Inc. lifted its stake in shares of Duke Realty Corp (NYSE:DRE) by 65.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,500 shares of the real estate investment trust’s stock after buying an additional 7,721 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Duke Realty were worth $562,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Brookfield Asset Management Inc. purchased a new stake in Duke Realty during the 2nd quarter worth approximately $130,756,000. BlackRock Inc. increased its holdings in Duke Realty by 8.6% during the 2nd 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. Lord Abbett & CO. LLC increased its holdings in Duke Realty by 95.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,973,900 shares of the real estate investment trust’s stock worth $83,121,000 after purchasing an additional 1,452,100 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in Duke Realty by 44.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,732,853 shares of the real estate investment trust’s stock worth $78,761,000 after purchasing an additional 835,750 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Duke Realty during the 2nd quarter worth approximately $15,043,000. Institutional investors and hedge funds own 94.09% of the company’s stock.
Shares of Duke Realty Corp (NYSE:DRE) opened at $27.36 on Wednesday. Duke Realty Corp has a twelve month low of $23.93 and a twelve month high of $30.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market capitalization of $9,918.52, a P/E ratio of 22.28, a PEG ratio of 5.13 and a beta of 0.90.
Duke Realty (NYSE:DRE) last issued its quarterly earnings results 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 had a return on equity of 6.36% and a net margin of 178.66%. The business had revenue of $169.61 million during the quarter, compared to the consensus estimate of $168.75 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. sell-side analysts predict that Duke Realty Corp will post 1.24 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be issued a $0.85 dividend. This represents a dividend yield of 2.74%. This is an increase from Duke Realty’s previous special dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 30th. Duke Realty’s payout ratio is 19.18%.
Several research firms have issued reports on DRE. BMO Capital Markets began coverage on Duke Realty in a report on Monday, September 11th. They set a “market perform” rating and a $30.00 price objective on the stock. BidaskClub upgraded Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird dropped their price objective on Duke Realty from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $31.00 price objective on shares of Duke Realty in a report on Thursday, September 21st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Duke Realty currently has a consensus rating of “Hold” and a consensus price target of $29.55.
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About Duke Realty
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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