Mackay Shields LLC Increases Holdings in Duke Realty Corp (DRE)

Mackay Shields LLC raised its position in shares of Duke Realty Corp (NYSE:DRE) by 18.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,617 shares of the real estate investment trust’s stock after buying an additional 10,635 shares during the quarter. Mackay Shields LLC’s holdings in Duke Realty were worth $1,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Duke Realty by 253.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,544,914 shares of the real estate investment trust’s stock worth $72,199,000 after purchasing an additional 1,825,535 shares during the period. PGGM Investments lifted its position in shares of Duke Realty by 24.4% during the 4th quarter. PGGM Investments now owns 6,727,800 shares of the real estate investment trust’s stock valued at $174,250,000 after acquiring an additional 1,320,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Duke Realty by 1,667.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,104,300 shares of the real estate investment trust’s stock valued at $31,329,000 after acquiring an additional 1,041,830 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Duke Realty by 63.1% in the third quarter. Panagora Asset Management Inc. now owns 2,607,903 shares of the real estate investment trust’s stock valued at $73,986,000 after purchasing an additional 1,009,302 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Duke Realty by 2,458.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,002,434 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 963,250 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

In other news, EVP Ann C. Dee sold 18,334 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $29.77, for a total value of $545,803.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas C. Anthony sold 9,937 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $29.07, for a total transaction of $288,868.59. Following the completion of the sale, the executive vice president now directly owns 28,016 shares in the company, valued at $814,425.12. The disclosure for this sale can be found here. Insiders have sold a total of 94,674 shares of company stock worth $2,805,226 over the last three months. Insiders own 0.29% of the company’s stock.



Several equities research analysts have recently issued reports on DRE shares. SunTrust Banks raised Duke Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. JPMorgan Chase & Co. upgraded shares of Duke Realty from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. Wells Fargo & Co upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 11th. BMO Capital Markets raised shares of Duke Realty from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 9th. Finally, BTIG Research raised shares of Duke Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Duke Realty presently has a consensus rating of “Buy” and a consensus price target of $30.38.

Shares of NYSE:DRE opened at $30.67 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.56. Duke Realty Corp has a one year low of $24.67 and a one year high of $31.00. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 4.51 and a beta of 0.76.

Duke Realty (NYSE:DRE) last issued its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.17). Duke Realty had a return on equity of 8.02% and a net margin of 40.48%. The business had revenue of $202.86 million for the quarter, compared to the consensus estimate of $200.75 million. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts forecast that Duke Realty Corp will post 1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were given a dividend of $0.215 per share. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $0.86 annualized dividend and a yield of 2.80%. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.

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Duke Realty Profile

Duke Realty Corporation owns and operates approximately 153 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 listed on the S&P 500 Index.

Further Reading: Net Income

Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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