Fiduciary Trust Co. bought a new stake in Duke Realty Corporation (NYSE:DRE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,200 shares of the real estate investment trust’s stock, valued at approximately $201,000.
Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Duke Realty Corporation by 9.6% in the 1st quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 341 shares during the period. Bessemer Group Inc. raised its stake in shares of 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 acquiring an additional 3,651 shares during the period. First Personal Financial Services raised its stake in shares of Duke Realty Corporation by 1.2% in 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 acquiring an additional 46 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Duke Realty Corporation in the 1st quarter valued at $132,000. Finally, Global X Management Co. LLC raised its stake in shares of Duke Realty Corporation by 45.2% in 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 acquiring an additional 1,732 shares during the period. 93.69% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Peter D. Harrington sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.
Shares of Duke Realty Corporation (DRE) opened at 30.14 on Tuesday. The company’s 50-day moving average is $28.93 and its 200 day moving average is $27.83. The stock has a market cap of $10.72 billion, a P/E ratio of 7.43 and a beta of 0.93. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $30.14.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $165.84 million during the quarter, compared to the consensus estimate of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same period in the prior year, the firm earned $0.30 EPS. Equities research analysts anticipate that Duke Realty Corporation will post $3.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 16th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio is currently 18.86%.
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A number of equities analysts have recently commented on DRE shares. BidaskClub downgraded shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley raised their target price on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Barclays PLC cut their target price on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Royal Bank Of Canada reissued a “buy” rating and issued a $30.00 target price on shares of Duke Realty Corporation in a research note on Wednesday, June 7th. Finally, Bank of America Corporation downgraded shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $30.00 in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Duke Realty Corporation presently has an average rating of “Hold” and an average target price of $28.91.
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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