Garner Asset Management Corp Acquires New Position in Duke Realty Corp (DRE)

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Garner Asset Management Corp acquired a new position in Duke Realty Corp (NYSE:DRE) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,594 shares of the real estate investment trust’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackay Shields LLC boosted its stake in Duke Realty by 18.7% during the fourth quarter. Mackay Shields LLC now owns 67,617 shares of the real estate investment trust’s stock valued at $1,752,000 after buying an additional 10,635 shares during the last quarter. Strs Ohio boosted its stake in Duke Realty by 4.6% during the fourth quarter. Strs Ohio now owns 949,694 shares of the real estate investment trust’s stock valued at $24,597,000 after buying an additional 41,548 shares during the last quarter. TD Asset Management Inc. boosted its stake in Duke Realty by 0.5% during the fourth quarter. TD Asset Management Inc. now owns 108,721 shares of the real estate investment trust’s stock valued at $2,816,000 after buying an additional 538 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Duke Realty by 6.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 414,187 shares of the real estate investment trust’s stock valued at $10,728,000 after buying an additional 23,533 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in Duke Realty by 4.6% during the fourth quarter. Achmea Investment Management B.V. now owns 99,346 shares of the real estate investment trust’s stock valued at $2,573,000 after buying an additional 4,400 shares during the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.

DRE stock traded up $0.52 during midday trading on Tuesday, reaching $30.25. 950,131 shares of the company traded hands, compared to its average volume of 2,138,686. Duke Realty Corp has a 52-week low of $24.67 and a 52-week high of $31.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market cap of $10.82 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 4.57 and a beta of 0.76.

Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.17). Duke Realty had a net margin of 40.48% and a return on equity of 8.02%. The company had revenue of $202.86 million for the quarter, compared to analysts’ expectations of $200.75 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities research analysts expect that Duke Realty Corp will post 1.39 EPS for the current year.

In other news, Director Melanie R. Sabelhaus sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.89, for a total value of $154,450.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann C. Dee sold 18,334 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $29.77, for a total value of $545,803.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,674 shares of company stock worth $2,805,226. Company insiders own 0.29% of the company’s stock.

A number of brokerages recently commented on DRE. Zacks Investment Research lowered Duke Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. BTIG Research increased their price target on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Barclays reissued a “hold” rating and set a $28.00 price target on shares of Duke Realty in a research note on Thursday, February 14th. BMO Capital Markets reissued a “buy” rating and set a $30.00 price target on shares of Duke Realty in a research note on Wednesday, January 30th. Finally, SunTrust Banks raised Duke Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.11.

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Duke Realty Profile

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

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