Teachers Insurance & Annuity Association of America cut its stake in shares of Duke Realty Corp (NYSE:DRE) by 93.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,572 shares of the real estate investment trust’s stock after selling 332,883 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Duke Realty were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in DRE. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Duke Realty by 65.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,500 shares of the real estate investment trust’s stock valued at $562,000 after buying an additional 7,721 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Duke Realty during the third quarter valued at $593,000. State of Wisconsin Investment Board grew its holdings in shares of Duke Realty by 9.2% during the third quarter. State of Wisconsin Investment Board now owns 543,947 shares of the real estate investment trust’s stock valued at $15,677,000 after buying an additional 45,997 shares during the last quarter. Swiss National Bank grew its holdings in shares of Duke Realty by 1.1% during the third quarter. Swiss National Bank now owns 1,310,189 shares of the real estate investment trust’s stock valued at $37,760,000 after buying an additional 14,700 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC grew its holdings in shares of Duke Realty by 20.8% during the third quarter. Global X MANAGEMENT CO LLC now owns 11,732 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 2,018 shares during the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
In other Duke Realty news, Director Charles R. Eitel sold 5,242 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $24.96, for a total value of $130,840.32. Following the sale, the director now directly owns 4,927 shares of the company’s stock, valued at $122,977.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.13). Duke Realty had a net margin of 197.59% and a return on equity of 6.28%. The business had revenue of $179.39 million during the quarter, compared to analysts’ expectations of $175.00 million. equities research analysts anticipate that Duke Realty Corp will post 1.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Wednesday, February 14th. Duke Realty’s payout ratio is 17.54%.
DRE has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $31.00 price objective on shares of Duke Realty in a report on Thursday, December 14th. JPMorgan Chase & Co. lowered shares of Duke Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Friday, December 15th. Royal Bank of Canada lowered shares of Duke Realty from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $29.00 to $31.00 in a report on Wednesday, January 3rd. BMO Capital Markets reissued a “hold” rating and set a $28.00 price objective on shares of Duke Realty in a report on Wednesday, January 31st. Finally, Citigroup raised shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.82.
COPYRIGHT VIOLATION WARNING: “Duke Realty Corp (DRE) Shares Sold by Teachers Insurance & Annuity Association of America” was reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3261821/duke-realty-corp-dre-shares-sold-by-teachers-insurance-annuity-association-of-america.html.
About Duke Realty
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.
Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corp (NYSE:DRE).
Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.