Bank of Montreal Can acquired a new position in Duke Realty Corp. (NYSE:DRE) during the second quarter, Holdings Channel reports. The fund acquired 520,594 shares of the real estate investment trust’s stock, valued at approximately $13,878,000.
Several other large investors have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Duke Realty Corp. by 35.2% in the second quarter. Creative Planning now owns 7,185 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 1,870 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Duke Realty Corp. during the second quarter worth approximately $247,000. CrestPoint Capital Management LLC boosted its stake in shares of Duke Realty Corp. by 6.4% in the second quarter. CrestPoint Capital Management LLC now owns 11,600 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 700 shares during the last quarter. Loeb Partners Corp bought a new stake in Duke Realty Corp. during the second quarter worth about $400,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Duke Realty Corp. during the second quarter worth about $416,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.
Duke Realty Corp. (NYSE:DRE) traded down 0.69% on Friday, hitting $27.33. The stock had a trading volume of 2,213,395 shares. The stock’s 50 day moving average is $27.62 and its 200 day moving average is $25.26. Duke Realty Corp. has a one year low of $18.52 and a one year high of $28.99. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 37.80 and a beta of 1.14.
Duke Realty Corp. (NYSE:DRE) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The firm earned $200.50 million during the quarter, compared to analysts’ expectations of $202.67 million. Duke Realty Corp. had a return on equity of 7.51% and a net margin of 27.88%. Duke Realty Corp.’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. Analysts anticipate that Duke Realty Corp. will post $1.19 earnings per share for the current year.
DRE has been the topic of a number of research analyst reports. Morgan Stanley reissued a “buy” rating and issued a $31.00 price target on shares of Duke Realty Corp. in a research note on Wednesday, September 7th. BTIG Research initiated coverage on shares of Duke Realty Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Citigroup Inc. lifted their price target on shares of Duke Realty Corp. from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Oppenheimer Holdings Inc. lifted their price target on shares of Duke Realty Corp. from $26.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Finally, Barclays PLC lifted their price target on shares of Duke Realty Corp. from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.36.
About Duke Realty Corp.
Duke Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company operates in four segments: industrial, medical office, office real estate investments and service operations. The Service operations segment consists of various real estate services, such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures.
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