JPMorgan Chase & Co. trimmed its position in shares of Duke Realty Corporation (NYSE:DRE) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,419,899 shares of the real estate investment trust’s stock after selling 234,903 shares during the quarter. JPMorgan Chase & Co. owned 0.68% of Duke Realty Corporation worth $67,636,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Duke Realty Corporation by 3.2% during the first quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock worth $1,496,116,000 after purchasing an additional 1,744,485 shares in the last quarter. BlackRock Inc. boosted its position in shares of Duke Realty Corporation by 1,882.9% during the first quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock worth $1,110,444,000 after purchasing an additional 40,138,665 shares in the last quarter. FMR LLC boosted its position in shares of Duke Realty Corporation by 1.5% during the first quarter. FMR LLC now owns 42,040,885 shares of the real estate investment trust’s stock worth $1,104,415,000 after purchasing an additional 635,211 shares in the last quarter. State Street Corp boosted its position in shares of Duke Realty Corporation by 0.8% during the first quarter. State Street Corp now owns 18,125,314 shares of the real estate investment trust’s stock worth $476,150,000 after purchasing an additional 149,171 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of 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 in the last quarter. 93.69% of the stock is currently owned by institutional investors.
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A number of brokerages have recently weighed in on DRE. BMO Capital Markets began coverage on shares of Duke Realty Corporation in a research report on Monday. They set a “market perform” rating and a $30.00 price target on the stock. BidaskClub raised shares of Duke Realty Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Stifel Nicolaus lifted their price target on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Bank of America Corporation cut shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $30.00 in a research report on Friday, June 23rd. Finally, Barclays PLC reduced their price target on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.91.
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 firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 7.43 and a beta of 0.93. Duke Realty Corporation has a one year low of $22.97 and a one year high of $30.14.
Duke Realty Corporation (NYSE:DRE) last issued its earnings results 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 for the quarter, compared to analyst estimates 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 earnings per share. Equities analysts expect that Duke Realty Corporation will post $3.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 16th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio is presently 18.86%.
In related news, EVP Peter D. Harrington sold 30,000 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.
Duke Realty Corporation Company 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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