Ontario Teachers Pension Plan Board Buys Shares of 26,961 Duke Realty Corporation (DRE)
Ontario Teachers Pension Plan Board bought a new stake in Duke Realty Corporation (NYSE:DRE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,961 shares of the real estate investment trust’s stock, valued at approximately $754,000.
Several other hedge funds have also recently modified their holdings of DRE. Bessemer Group Inc. lifted its stake in Duke Realty Corporation by 4,741.6% in the 2nd quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 3,651 shares during the last quarter. First Personal Financial Services grew its holdings 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 worth $110,000 after purchasing an additional 46 shares during the period. Advisor Group Inc. grew its holdings 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 worth $119,000 after purchasing an additional 12 shares during the period. Harbour Capital Advisors LLC acquired a new position in Duke Realty Corporation during the first quarter worth approximately $132,000. Finally, Global X Management Co. LLC increased its position 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 worth $146,000 after buying an additional 1,732 shares during the last quarter. 93.65% of the stock is currently owned by institutional investors.
Duke Realty Corporation (NYSE:DRE) opened at 29.01 on Wednesday. The stock’s 50 day moving average price is $29.28 and its 200-day moving average price is $28.27. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 7.15 and a beta of 0.93. Duke Realty Corporation has a 52 week low of $22.97 and a 52 week high of $30.14.
Duke Realty Corporation (NYSE:DRE) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $165.84 million for the quarter, compared to analysts’ expectations of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same period in the previous year, the company earned $0.30 earnings per share. On average, equities research analysts forecast that Duke Realty Corporation will post $3.71 earnings per share for the current fiscal year.
Several research firms have issued reports on DRE. J P Morgan Chase & Co lowered Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 target price on shares of Duke Realty Corporation in a research note on Thursday, September 21st. BidaskClub raised Duke Realty Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, BMO Capital Markets began coverage on Duke Realty Corporation in a research note on Monday, September 11th. They issued a “market perform” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $29.45.
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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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate 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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