Eagle Asset Management Inc. bought a new stake in Duke Realty Corp (NYSE:DRE) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 56,250 shares of the real estate investment trust’s stock, valued at approximately $1,720,000.
Several other hedge funds also recently bought and sold shares of DRE. PGGM Investments grew its stake in shares of Duke Realty by 106.7% in the first quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock valued at $425,158,000 after buying an additional 7,175,343 shares in the last quarter. Norges Bank acquired a new stake in shares of Duke Realty in the fourth quarter valued at about $93,469,000. JPMorgan Chase & Co. grew its stake in shares of Duke Realty by 253.8% in the third quarter. JPMorgan Chase & Co. now owns 2,544,914 shares of the real estate investment trust’s stock valued at $72,199,000 after buying an additional 1,825,535 shares in the last quarter. Millennium Management LLC grew its stake in shares of Duke Realty by 176.6% in the fourth quarter. Millennium Management LLC now owns 2,363,114 shares of the real estate investment trust’s stock valued at $61,205,000 after buying an additional 1,508,876 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake 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 buying an additional 963,250 shares in the last quarter. Institutional investors and hedge funds own 95.73% of the company’s stock.
Shares of NYSE DRE opened at $30.68 on Monday. Duke Realty Corp has a fifty-two week low of $24.67 and a fifty-two week high of $31.69. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 4.56 and a beta of 0.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.86 dividend on an annualized basis and a yield of 2.80%. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.
In other Duke Realty news, insider Steven W. Schnur sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.82, for a total transaction of $298,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Melanie R. Sabelhaus sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.89, for a total value of $154,450.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,409 shares of company stock valued at $1,150,145. 0.29% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Duke Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Barclays reiterated a “hold” rating and issued a $28.00 target price on shares of Duke Realty in a research note on Thursday, February 14th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 target price on shares of Duke Realty in a research note on Wednesday, January 30th. BTIG Research increased their target price on Duke Realty from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, SunTrust Banks upgraded Duke Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Duke Realty presently has an average rating of “Buy” and a consensus target price of $36.11.
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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.
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