Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Duke Realty Corp (NYSE:DRE) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,530,305 shares of the real estate investment trust’s stock after selling 136,293 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Duke Realty were worth $46,797,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackay Shields LLC lifted its holdings in Duke Realty by 18.7% during the 4th quarter. Mackay Shields LLC now owns 67,617 shares of the real estate investment trust’s stock valued at $1,752,000 after purchasing an additional 10,635 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Duke Realty by 0.5% during the 4th quarter. TD Asset Management Inc. now owns 108,721 shares of the real estate investment trust’s stock valued at $2,816,000 after purchasing an additional 538 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Duke Realty by 6.0% during the 4th 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 purchasing an additional 23,533 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in Duke Realty by 4.6% during the 4th 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 purchasing an additional 4,400 shares during the last quarter. Finally, PGGM Investments lifted its holdings in Duke Realty by 24.4% during the 4th quarter. PGGM Investments now owns 6,727,800 shares of the real estate investment trust’s stock valued at $174,250,000 after purchasing an additional 1,320,000 shares during the last quarter. 93.91% of the stock is owned by institutional investors.
Several brokerages have issued reports on DRE. Zacks Investment Research downgraded Duke Realty from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. BTIG Research raised their price target on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Goldman Sachs Group began coverage on Duke Realty in a report on Wednesday, May 15th. They set a “buy” rating and a $33.00 price target for the company. Barclays reaffirmed a “hold” rating and set a $28.00 price target on shares of Duke Realty in a report on Thursday, February 14th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 price target on shares of Duke Realty in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Duke Realty presently has an average rating of “Buy” and an average target price of $35.35.
Duke Realty (NYSE:DRE) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Duke Realty had a return on equity of 7.37% and a net margin of 36.32%. The company had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $205.45 million. During the same quarter last year, the business earned $0.30 earnings per share. Duke Realty’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Duke Realty Corp will post 1.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, May 15th. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.
In related news, EVP Ann C. Dee sold 18,334 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $29.77, for a total value of $545,803.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Melanie R. Sabelhaus sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.89, for a total value of $154,450.00. The disclosure for this sale can be found here. Insiders sold 33,334 shares of company stock worth $998,453 over the last ninety days. 0.29% of the stock is currently owned by insiders.
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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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