7,310 Shares in Duke Realty Corp (DRE) Acquired by Synovus Financial Corp
Synovus Financial Corp bought a new stake in Duke Realty Corp (NYSE:DRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,310 shares of the real estate investment trust’s stock, valued at approximately $212,000.
A number of other large investors have also bought and sold shares of the stock. Stifel Financial Corp increased its holdings in Duke Realty by 3.4% in the third quarter. Stifel Financial Corp now owns 511,397 shares of the real estate investment trust’s stock valued at $14,739,000 after buying an additional 17,020 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Duke Realty by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 5,127,138 shares of the real estate investment trust’s stock valued at $147,766,000 after buying an additional 256,491 shares during the last quarter. Hartford Investment Management Co. purchased a new position in Duke Realty in the third quarter valued at $2,255,000. Schwab Charles Investment Management Inc. increased its holdings in Duke Realty by 24.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,660,886 shares of the real estate investment trust’s stock valued at $105,507,000 after buying an additional 711,572 shares during the last quarter. Finally, Barings LLC increased its holdings in Duke Realty by 42.9% in the third quarter. Barings LLC now owns 2,114,405 shares of the real estate investment trust’s stock valued at $60,937,000 after buying an additional 634,298 shares during the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.
Duke Realty Corp (NYSE DRE) opened at $27.91 on Friday. The stock has a market capitalization of $9,939.89, a PE ratio of 22.33, a price-to-earnings-growth ratio of 5.14 and a beta of 0.90. Duke Realty Corp has a twelve month low of $23.93 and a twelve month high of $30.14. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45.
Duke Realty (NYSE:DRE) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $169.61 million for the quarter, compared to analyst estimates of $168.75 million. Duke Realty had a return on equity of 6.36% and a net margin of 178.66%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. sell-side analysts forecast that Duke Realty Corp will post 1.24 EPS for the current year.
The business also recently declared a special dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 2.74%. This is a positive change from Duke Realty’s previous special dividend of $0.20. Duke Realty’s dividend payout ratio (DPR) is currently 19.18%.
DRE has been the topic of several recent analyst reports. J P Morgan Chase & Co lowered Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Tuesday, September 26th. Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 price objective on shares of Duke Realty in a report on Thursday, September 21st. Robert W. Baird dropped their price objective on Duke Realty from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Finally, BidaskClub raised Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Duke Realty has a consensus rating of “Hold” and an average price target of $29.55.
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Duke Realty Company Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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