UBS Asset Management Americas Inc. grew its holdings in shares of Duke Realty Corp (NYSE:DRE) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,651,693 shares of the real estate investment trust’s stock after purchasing an additional 116,318 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Duke Realty were worth $44,943,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Duke Realty by 3.1% during the 4th quarter. BlackRock Inc. now owns 38,099,284 shares of the real estate investment trust’s stock worth $1,036,682,000 after purchasing an additional 1,148,918 shares during the period. Schroder Investment Management Group lifted its stake in shares of Duke Realty by 27.2% during the 4th quarter. Schroder Investment Management Group now owns 1,212,489 shares of the real estate investment trust’s stock worth $32,992,000 after purchasing an additional 259,460 shares during the period. Rhumbline Advisers increased its holdings in shares of Duke Realty by 1.2% during the 4th quarter. Rhumbline Advisers now owns 687,461 shares of the real estate investment trust’s stock worth $18,706,000 after buying an additional 8,269 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Duke Realty by 5.7% during the 4th quarter. Arizona State Retirement System now owns 252,880 shares of the real estate investment trust’s stock worth $6,881,000 after buying an additional 13,571 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of Duke Realty during the 4th quarter worth $1,785,000. 94.30% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on DRE. Zacks Investment Research downgraded Duke Realty from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Royal Bank of Canada downgraded Duke Realty from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $29.00 to $31.00 in a report on Wednesday, January 3rd. Morgan Stanley restated an “overweight” rating and set a $31.00 price objective on shares of Duke Realty in a report on Thursday, December 14th. DA Davidson restated a “neutral” rating on shares of Duke Realty in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. downgraded Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Duke Realty currently has a consensus rating of “Hold” and a consensus target price of $29.82.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 3.14%. Duke Realty’s dividend payout ratio is currently 17.54%.
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Duke Realty Company Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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