Citadel Advisors LLC Lowers Position in Duke Realty Corporation (DRE)
Citadel Advisors LLC trimmed its position in shares of Duke Realty Corporation (NYSE:DRE) by 62.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,944 shares of the real estate investment trust’s stock after selling 420,118 shares during the period. Citadel Advisors LLC owned approximately 0.07% of Duke Realty Corporation worth $7,182,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in Duke Realty Corporation by 4,741.6% during the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 3,651 shares during the period. First Personal Financial Services increased its stake in Duke Realty Corporation by 1.2% during the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 46 shares during the period. Advisor Group Inc. increased its stake in Duke Realty Corporation by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 12 shares during the period. Harbour Capital Advisors LLC bought a new position in 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% during 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 acquiring an additional 1,732 shares during the period. Hedge funds and other institutional investors own 93.65% of the company’s stock.
Several equities analysts recently issued reports on the company. J P Morgan Chase & Co lowered Duke Realty Corporation from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Duke Realty Corporation in a research note on Thursday, September 21st. BMO Capital Markets assumed coverage on Duke Realty Corporation in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price target on the stock. BidaskClub upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Barclays PLC lowered their price target on Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.91.
Duke Realty Corporation (NYSE DRE) traded down 0.68% during midday trading on Tuesday, reaching $29.08. The company’s stock had a trading volume of 191,172 shares. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $30.14. The firm has a market cap of $10.34 billion, a P/E ratio of 7.17 and a beta of 0.93. The firm has a 50 day moving average price of $29.16 and a 200-day moving average price of $28.00.
Duke Realty Corporation (NYSE:DRE) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. The company had revenue of $165.84 million for the quarter, compared to analysts’ expectations of $185.25 million. During the same period last year, the firm earned $0.30 earnings per share. On average, analysts forecast that Duke Realty Corporation will post $3.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.76 annualized dividend and a dividend yield of 2.60%. Duke Realty Corporation’s dividend payout ratio is presently 18.86%.
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In other news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.
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.
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