Green Street Investors LLC lifted its holdings in Duke Realty Corp (NYSE:DRE) by 20.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 284,600 shares of the real estate investment trust’s stock after acquiring an additional 47,900 shares during the quarter. Duke Realty accounts for approximately 5.7% of Green Street Investors LLC’s holdings, making the stock its 5th largest position. Green Street Investors LLC’s holdings in Duke Realty were worth $9,668,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Doyle Wealth Management acquired a new position in shares of Duke Realty in the second quarter valued at about $25,000. NumerixS Investment Technologies Inc acquired a new position in shares of Duke Realty in the second quarter valued at about $36,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Duke Realty in the second quarter valued at about $38,000. CSat Investment Advisory L.P. grew its stake in shares of Duke Realty by 48.7% in the second quarter. CSat Investment Advisory L.P. now owns 1,338 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 438 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new position in shares of Duke Realty in the third quarter valued at about $53,000. Institutional investors and hedge funds own 93.47% of the company’s stock.
DRE has been the topic of a number of analyst reports. ValuEngine downgraded shares of Duke Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co increased their price objective on shares of Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley downgraded shares of Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price objective on the stock. in a research note on Monday, October 7th. Barclays set a $35.00 price objective on shares of Duke Realty and gave the stock a “hold” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus increased their price objective on shares of Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.03.
Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. The firm had revenue of $215.37 million during the quarter, compared to analysts’ expectations of $215.83 million. Duke Realty had a net margin of 40.04% and a return on equity of 8.49%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts expect that Duke Realty Corp will post 1.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s dividend payout ratio is 64.66%.
In other news, EVP Peter D. Harrington sold 10,297 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total value of $342,890.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.
About Duke Realty
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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