Metropolitan Life Insurance Co NY Sells 974 Shares of Duke Realty Corp (NYSE:DRE)

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Metropolitan Life Insurance Co NY reduced its holdings in shares of Duke Realty Corp (NYSE:DRE) by 1.3% in the third quarter, HoldingsChannel reports. The fund owned 71,336 shares of the real estate investment trust’s stock after selling 974 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Duke Realty were worth $2,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Saturna Capital CORP purchased a new stake in Duke Realty in the second quarter worth about $215,000. Nuveen Asset Management LLC increased its holdings in shares of Duke Realty by 49.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,966,704 shares of the real estate investment trust’s stock worth $220,217,000 after purchasing an additional 2,320,405 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Duke Realty by 17.8% in the 3rd quarter. State of Tennessee Treasury Department now owns 414,454 shares of the real estate investment trust’s stock worth $14,079,000 after purchasing an additional 62,622 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Duke Realty by 15.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 131,158 shares of the real estate investment trust’s stock worth $4,146,000 after purchasing an additional 17,162 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Duke Realty by 66.5% in the third quarter. Daiwa Securities Group Inc. now owns 7,326,865 shares of the real estate investment trust’s stock worth $248,894,000 after purchasing an additional 2,927,278 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Shares of DRE opened at $34.64 on Tuesday. The firm has a fifty day simple moving average of $34.70 and a two-hundred day simple moving average of $33.08. The firm has a market cap of $12.93 billion, a PE ratio of 26.05, a P/E/G ratio of 5.44 and a beta of 0.68. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.55. Duke Realty Corp has a 1-year low of $24.67 and a 1-year high of $36.04.

Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.25. Duke Realty had a return on equity of 8.49% and a net margin of 40.04%. The firm had revenue of $215.37 million for the quarter, compared to the consensus estimate of $215.83 million. During the same period last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Duke Realty Corp will post 1.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Wednesday, November 13th. This is a boost from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s dividend payout ratio is 70.68%.

Several research firms recently commented on DRE. Morgan Stanley cut Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price objective on the stock. in a research report on Monday, October 7th. ValuEngine downgraded Duke Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co boosted their target price on Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays set a $35.00 target price on shares of Duke Realty and gave the company a “hold” rating in a research note on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $39.03.

In other Duke Realty news, CEO James B. Connor sold 28,600 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.08, for a total value of $1,003,288.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

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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Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corp (NYSE:DRE).

Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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