Duke Realty Corp (DRE) Shares Sold by American International Group Inc.

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American International Group Inc. lowered its holdings in Duke Realty Corp (NYSE:DRE) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,138 shares of the real estate investment trust’s stock after selling 4,226 shares during the period. American International Group Inc.’s holdings in Duke Realty were worth $3,241,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BB&T Securities LLC boosted its position in Duke Realty by 2.7% in the fourth quarter. BB&T Securities LLC now owns 13,242 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 347 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Duke Realty by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,983 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 384 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Duke Realty by 4.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,491 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 392 shares during the last quarter. TD Asset Management Inc. boosted its position in Duke Realty by 0.5% in the fourth quarter. TD Asset Management Inc. now owns 108,721 shares of the real estate investment trust’s stock worth $2,816,000 after purchasing an additional 538 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Duke Realty by 1.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 40,564 shares of the real estate investment trust’s stock worth $1,052,000 after purchasing an additional 548 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of DRE opened at $30.65 on Tuesday. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 4.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.50 and a current ratio of 2.50. Duke Realty Corp has a 1 year low of $24.67 and a 1 year high of $31.00.

Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, January 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.17). The firm had revenue of $202.86 million during the quarter, compared to the consensus estimate of $200.75 million. Duke Realty had a net margin of 40.48% and a return on equity of 8.02%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Research analysts anticipate that Duke Realty Corp will post 1.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were paid a dividend of $0.215 per share. The ex-dividend date was Wednesday, February 13th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.81%. Duke Realty’s payout ratio is 64.66%.

In related news, CFO Mark A. Denien sold 46,328 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $29.49, for a total transaction of $1,366,212.72. Following the sale, the chief financial officer now directly owns 7,059 shares in the company, valued at approximately $208,169.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven W. Schnur sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.82, for a total value of $298,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,674 shares of company stock worth $2,805,226. 0.29% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on the company. Barclays reissued a “hold” rating and issued a $28.00 price objective on shares of Duke Realty in a research report on Thursday, February 14th. Zacks Investment Research lowered Duke Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. BTIG Research upgraded Duke Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. JPMorgan Chase & Co. upgraded Duke Realty from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. Finally, BMO Capital Markets restated a “buy” rating and issued a $30.00 target price on shares of Duke Realty in a research note on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Duke Realty presently has a consensus rating of “Buy” and an average price target of $30.38.

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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.

Further Reading: Diversification For Individual Investors

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

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