Paloma Partners Management Co purchased a new stake in Duke Realty Corp (NYSE:DRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 74,108 shares of the real estate investment trust’s stock, valued at approximately $2,151,000.
A number of other institutional investors have also made changes to their positions in DRE. Piedmont Investment Advisors LLC bought a new stake in Duke Realty in the 2nd quarter valued at $121,000. Advisors Preferred LLC bought a new stake in shares of Duke Realty in the 2nd quarter worth about $126,000. Laurion Capital Management LP bought a new stake in shares of Duke Realty in the 2nd quarter worth about $202,000. IBM Retirement Fund bought a new stake in shares of Duke Realty in the 1st quarter worth about $207,000. Finally, Fiduciary Trust Co. bought a new stake in shares of Duke Realty in the 2nd quarter worth about $210,000. 93.53% of the stock is currently owned by hedge funds and other institutional investors.
DRE has been the topic of several analyst reports. BMO Capital Markets set a $29.00 target price on shares of Duke Realty and gave the stock a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research lowered shares of Duke Realty from a “buy” rating to a “sell” rating in a report on Monday, July 16th. Morgan Stanley upped their target price on shares of Duke Realty from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, June 14th. Citigroup upped their target price on shares of Duke Realty from $30.50 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $30.00 target price on shares of Duke Realty in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.00.
Duke Realty (NYSE:DRE) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $192.09 million for the quarter, compared to the consensus estimate of $195.04 million. Duke Realty had a net margin of 72.53% and a return on equity of 7.87%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. analysts expect that Duke Realty Corp will post 1.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Thursday, August 16th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.80 annualized dividend and a yield of 2.78%. Duke Realty’s dividend payout ratio (DPR) is 64.52%.
In related news, insider Steven W. Schnur sold 2,600 shares of the company’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $28.89, for a total transaction of $75,114.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.
About Duke Realty
Duke Realty Corporation owns and operates approximately 150 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 listed on the S&P 500 Index.
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