First Trust Advisors LP Increases Stake in Duke Realty Corp. (DRE)
First Trust Advisors LP raised its position in Duke Realty Corp. (NYSE:DRE) by 86.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 502,751 shares of the real estate investment trust’s stock after buying an additional 233,824 shares during the period. First Trust Advisors LP owned approximately 0.14% of Duke Realty Corp. worth $13,740,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Duke Realty Corp. by 80.3% in the second quarter. JPMorgan Chase & Co. now owns 8,181,796 shares of the real estate investment trust’s stock worth $218,126,000 after buying an additional 3,643,842 shares during the period. Principal Financial Group Inc. increased its position in Duke Realty Corp. by 32.3% in the second quarter. Principal Financial Group Inc. now owns 11,874,021 shares of the real estate investment trust’s stock worth $316,560,000 after buying an additional 2,899,533 shares during the period. Standard Life Investments LTD increased its position in Duke Realty Corp. by 468.9% in the third quarter. Standard Life Investments LTD now owns 3,505,367 shares of the real estate investment trust’s stock worth $95,819,000 after buying an additional 2,889,154 shares during the period. FMR LLC increased its position in Duke Realty Corp. by 7.4% in the second quarter. FMR LLC now owns 40,781,314 shares of the real estate investment trust’s stock worth $1,087,230,000 after buying an additional 2,793,217 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Duke Realty Corp. by 496.0% in the second quarter. Nuveen Asset Management LLC now owns 2,022,531 shares of the real estate investment trust’s stock worth $53,921,000 after buying an additional 1,683,175 shares during the period. 94.86% of the stock is owned by institutional investors and hedge funds.
Duke Realty Corp. (NYSE:DRE) traded up 1.399% on Tuesday, reaching $25.735. The company’s stock had a trading volume of 1,503,472 shares. Duke Realty Corp. has a 12 month low of $18.52 and a 12 month high of $28.99. The firm has a 50 day moving average of $25.07 and a 200 day moving average of $26.13. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 31.308 and a beta of 1.02.
Duke Realty Corp. (NYSE:DRE) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm earned $226.19 million during the quarter, compared to the consensus estimate of $201.81 million. Duke Realty Corp. had a return on equity of 8.46% and a net margin of 32.10%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts anticipate that Duke Realty Corp. will post $1.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be given a dividend of $0.19 per share. This is a boost from Duke Realty Corp.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 2.99%. Duke Realty Corp.’s payout ratio is presently 92.68%.
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A number of research firms have weighed in on DRE. Zacks Investment Research raised Duke Realty Corp. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Monday, October 31st. Robert W. Baird raised Duke Realty Corp. from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday. RBC Capital Markets reissued an “outperform” rating and issued a $28.00 price objective (down previously from $30.00) on shares of Duke Realty Corp. in a report on Tuesday, November 22nd. BTIG Research started coverage on Duke Realty Corp. in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, Royal Bank Of Canada cut their price objective on Duke Realty Corp. from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.15.
Duke Realty Corp. Company Profile
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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