Duke Realty Co. (NYSE:DRE) Holdings Trimmed by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its position in shares of Duke Realty Co. (NYSE:DRE) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,303,879 shares of the real estate investment trust’s stock after selling 74,224 shares during the period. Panagora Asset Management Inc.’s holdings in Duke Realty were worth $54,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Platte River Wealth Advisors LLC lifted its position in Duke Realty by 1.4% during the 1st quarter. Platte River Wealth Advisors LLC now owns 17,803 shares of the real estate investment trust’s stock worth $764,000 after acquiring an additional 240 shares during the last quarter. BOKF NA raised its position in shares of Duke Realty by 0.6% during the first quarter. BOKF NA now owns 47,695 shares of the real estate investment trust’s stock valued at $2,000,000 after buying an additional 285 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Duke Realty by 0.3% during the first quarter. State of Michigan Retirement System now owns 98,508 shares of the real estate investment trust’s stock valued at $4,130,000 after buying an additional 300 shares during the last quarter. Norinchukin Bank The raised its position in shares of Duke Realty by 0.8% during the first quarter. Norinchukin Bank The now owns 37,263 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 306 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Duke Realty by 0.3% during the first quarter. American International Group Inc. now owns 119,298 shares of the real estate investment trust’s stock valued at $5,002,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company’s stock.

In other news, CEO James B. Connor sold 20,000 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $41.06, for a total transaction of $821,200.00. Following the sale, the chief executive officer now directly owns 141,758 shares of the company’s stock, valued at $5,820,583.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas C. Anthony sold 34,680 shares of the stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $42.74, for a total transaction of $1,482,223.20. The disclosure for this sale can be found here. Insiders have sold 100,680 shares of company stock worth $4,439,203 over the last three months. 0.41% of the stock is owned by insiders.

A number of brokerages have recently commented on DRE. Wells Fargo & Company upped their price objective on shares of Duke Realty from $45.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho upped their price objective on shares of Duke Realty from $44.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. Royal Bank of Canada upped their price objective on shares of Duke Realty from $43.00 to $49.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 1st. Morgan Stanley upped their price objective on shares of Duke Realty from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, May 20th. Finally, Raymond James upped their target price on shares of Duke Realty from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Duke Realty has an average rating of “Buy” and a consensus price target of $48.25.

Duke Realty stock traded down $0.23 during trading hours on Friday, hitting $49.45. 3,937 shares of the stock were exchanged, compared to its average volume of 1,932,996. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $18.54 billion, a PE ratio of 51.75, a P/E/G ratio of 4.92 and a beta of 0.53. Duke Realty Co. has a 12 month low of $34.01 and a 12 month high of $49.72. The stock has a 50-day moving average of $45.56.

Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Duke Realty had a return on equity of 6.97% and a net margin of 34.07%. The firm had revenue of $258.18 million for the quarter, compared to the consensus estimate of $252.25 million. During the same period in the prior year, the company posted $0.33 earnings per share. Duke Realty’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts expect that Duke Realty Co. will post 1.68 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were paid a dividend of $0.255 per share. The ex-dividend date was Thursday, May 13th. This represents a $1.02 annualized dividend and a dividend yield of 2.06%. Duke Realty’s dividend payout ratio (DPR) is currently 67.11%.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 159 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500 Index.

Recommended Story: What is the definition of arbitrage?

Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Co. (NYSE:DRE).

Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.