Arkadios Wealth Advisors Grows Stock Position in Duke Realty Co. (NYSE:DRE)
Arkadios Wealth Advisors boosted its holdings in Duke Realty Co. (NYSE:DRE) by 34.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,287 shares of the real estate investment trust’s stock after acquiring an additional 332 shares during the period. Arkadios Wealth Advisors’ holdings in Duke Realty were worth $50,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. raised its position in Duke Realty by 228.4% in the second quarter. Bessemer Group Inc. now owns 775 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 539 shares during the period. NuWave Investment Management LLC acquired a new stake in shares of Duke Realty during the 3rd quarter worth about $31,000. CWM LLC raised its holdings in Duke Realty by 83.4% in the 2nd quarter. CWM LLC now owns 1,014 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 461 shares during the period. Prospera Financial Services Inc purchased a new stake in Duke Realty in the 3rd quarter valued at about $43,000. Finally, Cornerstone Advisors Inc. lifted its position in Duke Realty by 27.0% in the second quarter. Cornerstone Advisors Inc. now owns 1,242 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 264 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.
DRE opened at $38.41 on Friday. Duke Realty Co. has a 12 month low of $25.19 and a 12 month high of $43.45. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 66.22, a PEG ratio of 5.81 and a beta of 0.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $39.20 and a 200 day moving average price of $37.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be given a dividend of $0.255 per share. This is a boost from Duke Realty’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 13th. Duke Realty’s dividend payout ratio is currently 70.83%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Friday, October 9th. BMO Capital Markets upgraded Duke Realty from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 11th. Morgan Stanley lifted their price objective on Duke Realty from $31.50 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group assumed coverage on Duke Realty in a report on Tuesday, September 29th. They issued a “neutral” rating on the stock. Finally, UBS Group initiated coverage on Duke Realty in a report on Friday, October 16th. They set a “buy” rating and a $48.00 target price for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.55.
About Duke Realty
Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 major logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500 Index.
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