Pensionfund DSM Netherlands Increases Stock Position in Duke Realty Co. (NYSE:DRE)


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Pensionfund DSM Netherlands boosted its stake in shares of Duke Realty Co. (NYSE:DRE) by 20.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,524 shares of the real estate investment trust’s stock after buying an additional 10,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Duke Realty were worth $2,454,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DRE. Acadian Asset Management LLC purchased a new position in Duke Realty during the third quarter worth about $62,000. Public Sector Pension Investment Board boosted its stake in Duke Realty by 25.6% during the third quarter. Public Sector Pension Investment Board now owns 44,623 shares of the real estate investment trust’s stock worth $1,647,000 after buying an additional 9,100 shares during the period. ExodusPoint Capital Management LP boosted its stake in Duke Realty by 14.5% during the third quarter. ExodusPoint Capital Management LP now owns 59,641 shares of the real estate investment trust’s stock worth $2,201,000 after buying an additional 7,535 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Duke Realty by 0.4% in the third quarter. Nuveen Asset Management LLC now owns 4,782,281 shares of the real estate investment trust’s stock valued at $176,466,000 after purchasing an additional 18,207 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Duke Realty by 5.7% in the third quarter. Great West Life Assurance Co. Can now owns 455,853 shares of the real estate investment trust’s stock valued at $16,815,000 after purchasing an additional 24,619 shares during the period. 96.64% of the stock is owned by institutional investors.

Shares of NYSE:DRE opened at $43.01 on Thursday. The firm’s 50 day moving average price is $40.94 and its 200 day moving average price is $39.57. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 74.16, a price-to-earnings-growth ratio of 4.87 and a beta of 0.53. Duke Realty Co. has a fifty-two week low of $28.80 and a fifty-two week high of $43.45. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, January 27th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.30. Duke Realty had a net margin of 22.76% and a return on equity of 4.30%. The firm had revenue of $248.67 million for the quarter, compared to analysts’ expectations of $240.26 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that Duke Realty Co. will post 1.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Tuesday, February 16th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, February 12th. This represents a $1.02 dividend on an annualized basis and a yield of 2.37%. Duke Realty’s payout ratio is currently 70.83%.

Separately, Mizuho raised their price objective on shares of Duke Realty from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, February 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.00.

In other news, Director Charles R. Eitel sold 3,719 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $41.48, for a total transaction of $154,264.12. Following the transaction, the director now directly owns 3,209 shares in the company, valued at $133,109.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas C. Anthony sold 34,680 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $42.74, for a total transaction of $1,482,223.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,399 shares of company stock worth $2,457,687. 0.33% of the stock is owned by corporate insiders.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

Further Reading: Systematic Risk and Investors

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

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