Amica Pension Fund Board of Trustees Takes $2.72 Million Position in Duke Realty Corporation (DRE)
Amica Pension Fund Board of Trustees acquired a new stake in Duke Realty Corporation (NYSE:DRE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,508 shares of the real estate investment trust’s stock, valued at approximately $2,724,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. acquired a new position in Duke Realty Corporation during the second quarter worth $7,968,000. Virtu KCG Holdings LLC acquired a new position in Duke Realty Corporation during the second quarter worth $815,000. Prudential Financial Inc. lifted its stake in Duke Realty Corporation by 18.1% during the second quarter. Prudential Financial Inc. now owns 2,688,388 shares of the real estate investment trust’s stock worth $75,141,000 after purchasing an additional 411,563 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Duke Realty Corporation during the second quarter worth $248,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Duke Realty Corporation by 17.1% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,663 shares of the real estate investment trust’s stock worth $3,205,000 after purchasing an additional 16,758 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
A number of research analysts have commented on DRE shares. BidaskClub upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. BMO Capital Markets started coverage on Duke Realty Corporation in a research note on Monday, September 11th. They set a “market perform” rating and a $30.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Duke Realty Corporation in a research note on Thursday, September 21st. J P Morgan Chase & Co cut Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research note on Tuesday, September 26th. Finally, Zacks Investment Research upgraded Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.55.
Duke Realty Corporation (DRE) traded down $0.08 during trading on Friday, hitting $29.22. The stock had a trading volume of 1,649,800 shares, compared to its average volume of 2,707,499. Duke Realty Corporation has a 1-year low of $23.93 and a 1-year high of $30.14. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $10,406.44, a price-to-earnings ratio of 23.38, a P/E/G ratio of 5.39 and a beta of 0.92.
Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Duke Realty Corporation had a return on equity of 6.36% and a net margin of 178.66%. The business had revenue of $169.61 million for the quarter, compared to analyst estimates of $168.75 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. equities research analysts expect that Duke Realty Corporation will post 1.23 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 2.74%. This is a positive change from Duke Realty Corporation’s previous special dividend of $0.20. Duke Realty Corporation’s dividend payout ratio is currently 19.18%.
Duke Realty Corporation 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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