Duke Realty Corp. (DRE) Stake Increased by KBC Group NV
KBC Group NV increased its position in Duke Realty Corp. (NYSE:DRE) by 19.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,200 shares of the real estate investment trust’s stock after buying an additional 43,583 shares during the period. KBC Group NV owned about 0.08% of Duke Realty Corp. worth $7,412,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Howe & Rusling Inc. raised its stake in shares of Duke Realty Corp. by 193.2% in the second quarter. Howe & Rusling Inc. now owns 4,075 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 2,685 shares during the period. IFP Advisors Inc increased its position in shares of Duke Realty Corp. by 167.1% in the second quarter. IFP Advisors Inc now owns 4,226 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,644 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of Duke Realty Corp. during the third quarter worth $161,000. Quadrant Capital Group LLC increased its position in shares of 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 worth $165,000 after buying an additional 157 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its position in shares of Duke Realty Corp. by 5.4% in the third quarter. Investment Counselors of Maryland LLC now owns 6,653 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 340 shares in the last quarter. 94.86% of the stock is currently owned by institutional investors.
Duke Realty Corp. (NYSE:DRE) traded down 1.28% during trading on Wednesday, reaching $25.48. The company’s stock had a trading volume of 2,131,516 shares. Duke Realty Corp. has a 52-week low of $18.52 and a 52-week high of $28.99. The firm’s 50-day moving average is $25.07 and its 200-day moving average is $26.13. The stock has a market cap of $9.04 billion, a P/E ratio of 31.00 and a beta of 1.02.
Duke Realty Corp. (NYSE:DRE) last released its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Duke Realty Corp. had a return on equity of 8.46% and a net margin of 32.10%. The firm had revenue of $226.19 million for the quarter, compared to the consensus estimate of $201.81 million. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that Duke Realty Corp. will post $1.20 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be paid a $0.19 dividend. This is an increase from Duke Realty Corp.’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 2.94%. Duke Realty Corp.’s dividend payout ratio (DPR) is currently 92.68%.
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A number of research analysts have commented on the company. Zacks Investment Research downgraded Duke Realty Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada lowered their target price on Duke Realty Corp. from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. Morgan Stanley restated a “buy” rating and issued a $31.00 target price on shares of Duke Realty Corp. in a research note on Wednesday, September 7th. Mizuho lowered their target price on Duke Realty Corp. from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, October 28th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $28.00 target price (down previously from $30.00) on shares of Duke Realty Corp. in a research note on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Duke Realty Corp. presently has a consensus rating of “Hold” and an average target price of $27.15.
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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