Arizona State Retirement System Trims Stake in Duke Realty Corp (DRE)

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Arizona State Retirement System lowered its holdings in shares of Duke Realty Corp (NYSE:DRE) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,392 shares of the real estate investment trust’s stock after selling 26,388 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Duke Realty worth $7,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in Duke Realty in the 2nd quarter worth approximately $126,000. SG Americas Securities LLC boosted its stake in Duke Realty by 63.9% in the 2nd quarter. SG Americas Securities LLC now owns 141,500 shares of the real estate investment trust’s stock worth $4,108,000 after purchasing an additional 55,150 shares during the period. AEW Capital Management L P boosted its stake in Duke Realty by 7.4% in the 2nd quarter. AEW Capital Management L P now owns 4,812,800 shares of the real estate investment trust’s stock worth $139,716,000 after purchasing an additional 330,800 shares during the period. Toronto Dominion Bank boosted its stake in Duke Realty by 22.9% in the 2nd quarter. Toronto Dominion Bank now owns 236,421 shares of the real estate investment trust’s stock worth $6,862,000 after purchasing an additional 44,042 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Duke Realty by 17.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 191,365 shares of the real estate investment trust’s stock worth $5,555,000 after purchasing an additional 29,089 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

NYSE DRE opened at $28.67 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.51. The company has a market cap of $10.30 billion, a PE ratio of 23.12, a PEG ratio of 4.36 and a beta of 0.68. Duke Realty Corp has a one year low of $24.30 and a one year high of $30.14.

Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $192.09 million during the quarter, compared to the consensus estimate of $195.04 million. Duke Realty had a return on equity of 7.87% and a net margin of 72.53%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. sell-side analysts expect that Duke Realty Corp will post 1.32 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Thursday, August 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.79%. Duke Realty’s dividend payout ratio is currently 64.52%.

Several research firms have weighed in on DRE. BMO Capital Markets set a $28.00 price target on Duke Realty and gave the stock a “hold” rating in a research note on Wednesday, April 25th. Morgan Stanley upped their price target on Duke Realty from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, June 14th. Zacks Investment Research upgraded Duke Realty from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday, July 2nd. SunTrust Banks set a $28.00 price target on Duke Realty and gave the stock a “hold” rating in a research note on Tuesday, August 7th. Finally, ValuEngine upgraded Duke Realty from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Duke Realty presently has a consensus rating of “Hold” and an average target price of $30.00.

In other news, insider Steven W. Schnur sold 2,600 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $28.89, for a total transaction of $75,114.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate 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.

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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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