UBS Oconnor LLC reduced its stake in shares of Duke Realty Corp (NYSE:DRE) by 23.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 83,000 shares of the real estate investment trust’s stock after selling 25,300 shares during the period. UBS Oconnor LLC’s holdings in Duke Realty were worth $2,624,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in DRE. Bank of America Corp DE grew its stake in shares of Duke Realty by 3.5% in the second quarter. Bank of America Corp DE now owns 1,566,779 shares of the real estate investment trust’s stock worth $49,526,000 after acquiring an additional 52,508 shares in the last quarter. Marshall Wace North America L.P. grew its stake in shares of Duke Realty by 644.5% in the second quarter. Marshall Wace North America L.P. now owns 20,846 shares of the real estate investment trust’s stock worth $659,000 after acquiring an additional 18,046 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of Duke Realty by 45.6% in the second quarter. Balyasny Asset Management LLC now owns 1,254,422 shares of the real estate investment trust’s stock worth $39,652,000 after acquiring an additional 392,963 shares in the last quarter. Ellington Management Group LLC acquired a new position in shares of Duke Realty in the second quarter worth $253,000. Finally, Private Advisor Group LLC grew its stake in shares of Duke Realty by 92.5% in the second quarter. Private Advisor Group LLC now owns 13,222 shares of the real estate investment trust’s stock worth $418,000 after acquiring an additional 6,353 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors.
Shares of DRE stock traded up $0.09 on Thursday, reaching $33.36. 3,056,187 shares of the stock were exchanged, compared to its average volume of 1,613,934. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $33.03 and its 200 day moving average price is $31.63. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 5.14 and a beta of 0.73. Duke Realty Corp has a twelve month low of $24.67 and a twelve month high of $33.83.
Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The firm had revenue of $213.11 million for the quarter, compared to analyst estimates of $212.46 million. Duke Realty had a return on equity of 4.82% and a net margin of 23.14%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities research analysts forecast that Duke Realty Corp will post 1.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.215 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.58%. Duke Realty’s payout ratio is currently 64.66%.
Several equities analysts have commented on the stock. Scotiabank upgraded shares of Duke Realty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded shares of Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research note on Wednesday, June 19th. Finally, Stifel Nicolaus boosted their price target on shares of Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.35.
In related news, EVP Nicholas C. Anthony sold 7,806 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.61, for a total transaction of $254,553.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter D. Harrington sold 10,297 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total transaction of $342,890.10. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
About Duke Realty
Duke Realty Corporation owns and operates approximately 153 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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