Bridgewater Associates LP Takes $1.32 Million Position in Duke Realty Corporation (DRE)
Bridgewater Associates LP purchased a new stake in shares of Duke Realty Corporation (NYSE:DRE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,098 shares of the real estate investment trust’s stock, valued at approximately $1,316,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Teachers Advisors LLC grew its position in Duke Realty Corporation by 2.5% during the second quarter. Teachers Advisors LLC now owns 1,207,983 shares of the real estate investment trust’s stock valued at $33,763,000 after buying an additional 29,486 shares during the period. Symphony Asset Management LLC grew its position in Duke Realty Corporation by 14.6% during the second quarter. Symphony Asset Management LLC now owns 22,742 shares of the real estate investment trust’s stock valued at $636,000 after buying an additional 2,900 shares during the period. Riverhead Capital Management LLC grew its position in Duke Realty Corporation by 63.8% during the second quarter. Riverhead Capital Management LLC now owns 20,469 shares of the real estate investment trust’s stock valued at $572,000 after buying an additional 7,969 shares during the period. Aberdeen Asset Management PLC UK bought a new position in Duke Realty Corporation during the second quarter valued at about $279,000. Finally, AXA bought a new position in Duke Realty Corporation during the second quarter valued at about $5,843,000. Institutional investors own 93.69% of the company’s stock.
Shares of Duke Realty Corporation (DRE) opened at 29.57 on Friday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 7.29 and a beta of 0.93. The firm’s 50-day moving average is $29.12 and its 200 day moving average is $27.92. Duke Realty Corporation has a 12-month low of $22.97 and a 12-month high of $30.14.
Duke Realty Corporation (NYSE:DRE) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $165.84 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.30 EPS. On average, equities research analysts forecast that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.57%. Duke Realty Corporation’s dividend payout ratio is currently 18.86%.
COPYRIGHT VIOLATION WARNING: “Bridgewater Associates LP Takes $1.32 Million Position in Duke Realty Corporation (DRE)” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/16/bridgewater-associates-lp-takes-1-32-million-position-in-duke-realty-corporation-dre.html.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.
DRE has been the subject of several research reports. Royal Bank Of Canada restated a “buy” rating and set a $30.00 price target on shares of Duke Realty Corporation in a research report on Wednesday, June 7th. Stifel Nicolaus increased their price target on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Bank of America Corporation lowered shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $30.00 in a research report on Friday, June 23rd. BidaskClub lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley increased their price target on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.91.
About Duke Realty Corporation
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.
Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corporation (NYSE:DRE).
Receive News & Stock Ratings for Duke Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty Corporation and related stocks with our FREE daily email newsletter.