Schwab Charles Investment Management Inc. boosted its stake in Duke Realty Corp (NYSE:DRE) by 5.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,307,240 shares of the real estate investment trust’s stock after buying an additional 222,120 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Duke Realty were worth $125,040,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of DRE. Piedmont Investment Advisors LLC purchased a new position in Duke Realty in the 2nd quarter worth approximately $121,000. Advisors Preferred LLC purchased a new position in Duke Realty in the 2nd quarter worth approximately $126,000. Fiduciary Trust Co. purchased a new position in Duke Realty in the 2nd quarter worth approximately $210,000. Banced Corp purchased a new position in Duke Realty in the 2nd quarter worth approximately $214,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in Duke Realty in the 2nd quarter worth approximately $226,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on DRE. SunTrust Banks set a $28.00 target price on shares of Duke Realty and gave the stock a “hold” rating in a research note on Tuesday, August 7th. Citigroup raised their target price on shares of Duke Realty from $30.50 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $30.00 target price on shares of Duke Realty in a research note on Monday, July 30th. BMO Capital Markets set a $29.00 target price on shares of Duke Realty and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research lowered shares of Duke Realty from a “buy” rating to a “sell” rating in a research note on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.00.
Shares of NYSE DRE opened at $28.94 on Monday. The company has a market cap of $10.30 billion, a PE ratio of 23.34, a PEG ratio of 4.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.64 and a quick ratio of 2.64. Duke Realty Corp has a 1 year low of $24.30 and a 1 year high of $30.14.
Duke Realty (NYSE:DRE) last announced 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 Zacks’ consensus estimate of $0.33. The business had revenue of $192.09 million during 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 business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. sell-side analysts expect that Duke Realty Corp will post 1.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.76%. Duke Realty’s dividend payout ratio is currently 64.52%.
In other news, insider Steven W. Schnur sold 2,600 shares of the firm’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by company insiders.
Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 149 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. More information about Duke Realty Corporation is available at www.dukerealty.com.
Further Reading: Earnings Per Share
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