Nuveen Asset Management LLC boosted its holdings in Duke Realty Corp (NYSE:DRE) by 49.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,966,704 shares of the real estate investment trust’s stock after acquiring an additional 2,320,405 shares during the period. Nuveen Asset Management LLC owned 1.94% of Duke Realty worth $220,217,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 6 Meridian lifted its stake in Duke Realty by 2.0% during the second quarter. 6 Meridian now owns 17,211 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 331 shares in the last quarter. AlphaCrest Capital Management LLC lifted its stake in Duke Realty by 3.2% during the first quarter. AlphaCrest Capital Management LLC now owns 14,134 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 434 shares in the last quarter. CSat Investment Advisory L.P. lifted its stake in Duke Realty by 48.7% during the second quarter. CSat Investment Advisory L.P. now owns 1,338 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 438 shares in the last quarter. Huntington National Bank lifted its stake in Duke Realty by 18.0% during the second quarter. Huntington National Bank now owns 2,934 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 448 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Duke Realty by 2.1% during the second quarter. Meeder Asset Management Inc. now owns 26,551 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.
Several analysts have recently issued reports on the company. Stifel Nicolaus increased their price objective on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank upgraded Duke Realty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research cut Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Wednesday, June 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.35.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). The company had revenue of $213.11 million during the quarter, compared to analyst estimates of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. On average, analysts expect that Duke Realty Corp will post 1.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.56%. The ex-dividend date was Wednesday, August 14th. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.
In related news, EVP Peter D. Harrington sold 10,297 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas C. Anthony sold 7,806 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.61, for a total value of $254,553.66. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Duke Realty Company 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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