Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Duke Realty Corp (NYSE:DRE) by 61.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 271,025 shares of the real estate investment trust’s stock after selling 437,331 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Duke Realty were worth $7,689,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in DRE. Stratos Wealth Partners LTD. acquired a new stake in shares of Duke Realty during the third quarter valued at about $103,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Duke Realty during the second quarter valued at about $121,000. Advisors Preferred LLC acquired a new stake in shares of Duke Realty during the second quarter valued at about $126,000. ClariVest Asset Management LLC acquired a new stake in shares of Duke Realty during the third quarter valued at about $162,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Duke Realty during the second quarter valued at about $202,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
Shares of DRE stock opened at $28.52 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $10.33 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 4.50 and a beta of 0.58. Duke Realty Corp has a fifty-two week low of $24.30 and a fifty-two week high of $29.48.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Duke Realty’s previous quarterly dividend of $0.20. Duke Realty’s payout ratio is 69.35%.
In other Duke Realty news, EVP Peter D. Harrington sold 16,500 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $28.98, for a total transaction of $478,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Melanie R. Sabelhaus sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $27.98, for a total transaction of $69,950.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
A number of brokerages recently weighed in on DRE. Zacks Investment Research cut shares of Duke Realty from a “buy” rating to a “hold” rating in a report on Monday, October 29th. BMO Capital Markets restated a “hold” rating and issued a $30.00 price objective on shares of Duke Realty in a report on Wednesday, October 24th. Barclays restated a “hold” rating and issued a $26.00 price objective on shares of Duke Realty in a report on Sunday, October 14th. Scotiabank began coverage on shares of Duke Realty in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, ValuEngine upgraded shares of Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.89.
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About Duke Realty
Duke Realty Corporation owns and operates approximately 150 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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