Securian Asset Management Inc lowered its position in shares of Duke Realty Corp (NYSE:DRE) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 788,902 shares of the real estate investment trust’s stock after selling 114,012 shares during the period. Securian Asset Management Inc’s holdings in Duke Realty were worth $22,902,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new position in Duke Realty in the second quarter valued at $121,000. Advisors Preferred LLC acquired a new position in Duke Realty in the second quarter valued at $126,000. Campbell & CO Investment Adviser LLC acquired a new position in Duke Realty in the first quarter valued at $207,000. IBM Retirement Fund acquired a new position in Duke Realty in the first quarter valued at $207,000. Finally, Fiduciary Trust Co. acquired a new position in Duke Realty in the second quarter valued at $210,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.
In other news, insider Steven W. Schnur sold 2,600 shares of the 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 Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on the stock. SunTrust Banks set a $28.00 price objective on shares of Duke Realty and gave the company a “hold” rating in a research note on Tuesday, August 7th. Citigroup upped their price objective on shares of Duke Realty from $30.50 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Royal Bank of Canada restated a “hold” rating and issued a $30.00 price objective on shares of Duke Realty in a research note on Monday, July 30th. BMO Capital Markets set a $29.00 price objective on shares of Duke Realty and gave the company a “hold” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research downgraded 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.00.
Shares of DRE opened at $28.67 on Tuesday. Duke Realty Corp has a fifty-two week low of $24.30 and a fifty-two week high of $30.14. The stock has a market cap of $10.34 billion, a PE ratio of 23.12, a price-to-earnings-growth 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 (NYSE:DRE) last announced its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Duke Realty had a net margin of 72.53% and a return on equity of 7.87%. The business had revenue of $192.09 million during the quarter, compared to the consensus estimate of $195.04 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. sell-side analysts anticipate that Duke Realty Corp will post 1.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.79%. Duke Realty’s dividend payout ratio (DPR) is 64.52%.
About Duke Realty
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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