Cadence Capital Management LLC Has $586,000 Position in Duke Realty Corporation (DRE)
Cadence Capital Management LLC lowered its stake in shares of Duke Realty Corporation (NYSE:DRE) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,973 shares of the real estate investment trust’s stock after selling 955 shares during the period. Cadence Capital Management LLC’s holdings in Duke Realty Corporation were worth $586,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in DRE. First Personal Financial Services increased its position in shares of Duke Realty Corporation by 117.6% in the first quarter. First Personal Financial Services now owns 3,885 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 2,100 shares during the period. Toronto Dominion Bank increased its position in shares of Duke Realty Corporation by 9.6% in the first quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 341 shares during the period. Bessemer Group Inc. increased its position in shares of Duke Realty Corporation by 4,741.6% in the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 3,651 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Duke Realty Corporation during the first quarter valued at about $132,000. Finally, Global X Management Co. LLC increased its stake in Duke Realty Corporation by 45.2% in the first quarter. Global X Management Co. LLC now owns 5,562 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,732 shares during the last quarter. 93.66% of the stock is owned by institutional investors.
Shares of Duke Realty Corporation (NYSE DRE) opened at 29.41 on Wednesday. The firm has a market cap of $10.46 billion, a P/E ratio of 7.25 and a beta of 0.94. The firm’s 50-day moving average price is $28.49 and its 200 day moving average price is $27.50. Duke Realty Corporation has a 12-month low of $22.97 and a 12-month high of $29.72.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corporation had a return on equity of 8.72% and a net margin of 166.06%. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities analysts expect that Duke Realty Corporation will post $3.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.76 annualized dividend and a yield of 2.58%. Duke Realty Corporation’s payout ratio is currently 18.86%.
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Several research firms recently weighed in on DRE. Stifel Nicolaus upped their price objective on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. BidaskClub raised shares of Duke Realty Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Bank of America Corporation downgraded shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $30.00 in a report on Friday, June 23rd. Finally, Barclays PLC reduced their price objective on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.73.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.
Duke Realty Corporation Company Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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