Renaissance Technologies LLC Increases Stake in Duke Realty Corp (NYSE:DRE)

Renaissance Technologies LLC raised its holdings in Duke Realty Corp (NYSE:DRE) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,304,900 shares of the real estate investment trust’s stock after buying an additional 106,600 shares during the quarter. Renaissance Technologies LLC owned about 0.36% of Duke Realty worth $41,248,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DRE. Geode Capital Management LLC grew its position in shares of Duke Realty by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 6,044,402 shares of the real estate investment trust’s stock worth $156,339,000 after buying an additional 473,385 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Duke Realty by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,552 shares of the real estate investment trust’s stock worth $537,000 after buying an additional 500 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Duke Realty by 1.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 56,052 shares of the real estate investment trust’s stock worth $1,714,000 after buying an additional 856 shares during the last quarter. State Treasurer State of Michigan grew its position in shares of Duke Realty by 0.9% in the 1st quarter. State Treasurer State of Michigan now owns 103,500 shares of the real estate investment trust’s stock worth $3,165,000 after buying an additional 900 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Duke Realty by 47.9% in the 1st quarter. Toronto Dominion Bank now owns 338,894 shares of the real estate investment trust’s stock worth $10,361,000 after buying an additional 109,766 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Shares of NYSE DRE traded up $0.43 during mid-day trading on Thursday, hitting $32.55. 63,234 shares of the stock traded hands, compared to its average volume of 1,955,902. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.90 and a current ratio of 1.90. Duke Realty Corp has a 52 week low of $24.67 and a 52 week high of $33.83. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 5.18 and a beta of 0.73. The stock has a fifty day moving average price of $33.12 and a 200-day moving average price of $31.55.



Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.15). Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The firm had revenue of $213.11 million for the quarter, compared to the consensus estimate of $212.46 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that Duke Realty Corp will post 1.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, August 14th. Duke Realty’s dividend payout ratio (DPR) is 64.66%.

In other Duke Realty news, EVP Nicholas C. Anthony sold 7,806 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter D. Harrington sold 10,297 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total value of $342,890.10. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

A number of brokerages have recently weighed in on DRE. Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research report on Wednesday, June 19th. Goldman Sachs Group began coverage on Duke Realty in a research report on Wednesday, May 15th. They issued a “buy” rating and a $33.00 price objective on the stock. Stifel Nicolaus lifted their price target on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America lowered Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 price target on the stock. in a research report on Thursday, May 16th. Finally, Scotiabank upgraded Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.35.

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.

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

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