Landscape Capital Management L.L.C. Acquires New Stake in Duke Realty Corp (NYSE:DRE)

Landscape Capital Management L.L.C. purchased a new stake in shares of Duke Realty Corp (NYSE:DRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,785 shares of the real estate investment trust’s stock, valued at approximately $1,321,000.

Other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Duke Realty in the second quarter worth about $38,000. Private Capital Group LLC boosted its stake in shares of Duke Realty by 27.4% in the first quarter. Private Capital Group LLC now owns 1,976 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 425 shares during the period. Huntington National Bank boosted its stake in shares of Duke Realty by 18.0% in the second quarter. Huntington National Bank now owns 2,934 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 448 shares during the period. Ibex Wealth Advisors bought a new position in shares of Duke Realty in the second quarter worth about $103,000. Finally, Exane Derivatives boosted its stake in shares of Duke Realty by 1,598.1% in the first quarter. Exane Derivatives now owns 5,281 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 4,970 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

DRE stock traded up $0.35 during midday trading on Friday, reaching $33.26. 1,681,500 shares of the company traded hands, compared to its average volume of 1,946,621. Duke Realty Corp has a 52-week low of $24.67 and a 52-week high of $33.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.90 and a current ratio of 1.90. The business has a 50 day moving average of $32.88 and a 200-day moving average of $31.14. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 5.10 and a beta of 0.73.

Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The company had revenue of $213.11 million for the quarter, compared to analysts’ expectations of $212.46 million. During the same quarter last year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts anticipate that Duke Realty Corp will post 1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.86 dividend on an annualized basis and a yield of 2.59%. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.

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

In other Duke Realty news, EVP Nicholas C. Anthony sold 7,806 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.61, for a total transaction of $254,553.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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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