Sit Investment Associates Inc. Invests $12,067,000 in Duke Realty Corp. (DRE)
Sit Investment Associates Inc. purchased a new stake in Duke Realty Corp. (NYSE:DRE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 452,625 shares of the real estate investment trust’s stock, valued at approximately $12,067,000. Sit Investment Associates Inc. owned 0.13% of Duke Realty Corp. at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRE. Quadrant Capital Group LLC raised its position in Duke Realty Corp. by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 6,365 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 157 shares during the last quarter. Creative Planning raised its position in 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 valued at $192,000 after buying an additional 1,870 shares during the last quarter. UMB Bank N A MO bought a new position in Duke Realty Corp. during the second quarter valued at approximately $203,000. Hartford Investment Management Co. bought a new position in Duke Realty Corp. during the second quarter valued at approximately $247,000. Finally, CrestPoint Capital Management LLC raised its position in 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 valued at $309,000 after buying an additional 700 shares during the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Duke Realty Corp. (NYSE:DRE) traded down 0.23% during mid-day trading on Thursday, hitting $25.62. The stock had a trading volume of 2,110,519 shares. The firm has a 50 day moving average price of $27.46 and a 200 day moving average price of $25.38. Duke Realty Corp. has a 52-week low of $18.52 and a 52-week high of $28.99. The firm has a market cap of $8.99 billion, a PE ratio of 35.44 and a beta of 1.09.
Duke Realty Corp. (NYSE:DRE) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The firm earned $200.50 million during the quarter, compared to analyst estimates 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 period last year, the business posted $0.28 earnings per share. Equities analysts predict that Duke Realty Corp. will post $1.19 EPS for the current year.
Several research firms have recently commented on DRE. Stifel Nicolaus boosted their price target on Duke Realty Corp. from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Royal Bank Of Canada boosted their price target on Duke Realty Corp. from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. Mizuho started coverage on Duke Realty Corp. in a research report on Wednesday, September 28th. They set a “neutral” rating and a $29.00 target price on the stock. BTIG Research started coverage on Duke Realty Corp. in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Oppenheimer Holdings Inc. upped their target price on Duke Realty Corp. from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Duke Realty Corp. currently has an average rating of “Hold” and a consensus target price 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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