Veritable L.P. Has $348,000 Position in Duke Realty Corporation (DRE)
Veritable L.P. cut its holdings in Duke Realty Corporation (NYSE:DRE) by 52.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,462 shares of the real estate investment trust’s stock after selling 13,947 shares during the period. Veritable L.P.’s holdings in Duke Realty Corporation were worth $348,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in DRE. BlackRock Inc. grew its stake in Duke Realty Corporation by 1,882.9% in the 1st quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after buying an additional 40,138,665 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Duke Realty Corporation by 30.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock valued at $226,671,000 after acquiring an additional 1,894,749 shares during the period. Vanguard Group Inc. raised its holdings in Duke Realty Corporation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 56,951,515 shares of the real estate investment trust’s stock valued at $1,496,116,000 after acquiring an additional 1,744,485 shares during the period. Russell Investments Group Ltd. raised its holdings in Duke Realty Corporation by 355.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,886,452 shares of the real estate investment trust’s stock valued at $52,675,000 after acquiring an additional 1,472,089 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of Duke Realty Corporation by 20.2% during the first quarter. Nuveen Asset Management LLC now owns 6,944,579 shares of the real estate investment trust’s stock worth $182,434,000 after acquiring an additional 1,168,051 shares in the last quarter. 93.65% of the stock is owned by institutional investors.
A number of research firms have recently commented on DRE. BidaskClub raised Duke Realty Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price objective 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 objective on the stock. Morgan Stanley increased their price objective on Duke Realty Corporation from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $30.00 price objective on shares of Duke Realty Corporation in a report on Wednesday, June 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.45.
In other news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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Shares of Duke Realty Corporation (NYSE:DRE) opened at 29.01 on Wednesday. Duke Realty Corporation has a 1-year low of $22.97 and a 1-year high of $30.14. The company’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 (NYSE:DRE) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $165.84 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.30 earnings per share. On average, analysts predict that Duke Realty Corporation will post $3.71 earnings per share for the current fiscal year.
Duke Realty Corporation 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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