Retirement Systems of Alabama decreased its holdings in Duke Realty Corp (NYSE:DRE) by 5.6% during the third quarter, HoldingsChannel.com reports. The firm owned 158,281 shares of the real estate investment trust’s stock after selling 9,342 shares during the quarter. Retirement Systems of Alabama’s holdings in Duke Realty were worth $5,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Doyle Wealth Management purchased a new stake in Duke Realty in the second quarter worth $25,000. NumerixS Investment Technologies Inc purchased a new stake in Duke Realty in the second quarter worth $36,000. Steward Partners Investment Advisory LLC purchased a new stake in Duke Realty in the second quarter worth $38,000. CSat Investment Advisory L.P. increased its stake in 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 worth $42,000 after purchasing an additional 438 shares during the period. Finally, North Star Investment Management Corp. purchased a new stake in Duke Realty in the third quarter worth $53,000. Institutional investors and hedge funds own 93.47% of the company’s stock.

In other news, EVP Peter D. Harrington sold 10,297 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total transaction of $342,890.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

DRE opened at $34.62 on Friday. Duke Realty Corp has a 12-month low of $24.67 and a 12-month high of $36.04. The company has a current ratio of 2.26, a quick ratio of 1.90 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $34.13 and its 200-day simple moving average is $32.56. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 5.38 and a beta of 0.69.

Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. Duke Realty had a return on equity of 8.49% and a net margin of 40.04%. The business had revenue of $215.37 million for the quarter, compared to the consensus estimate of $215.83 million. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Duke Realty Corp will post 1.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.235 per share. This is an increase from Duke Realty’s previous quarterly dividend of $0.22. 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%. Duke Realty’s dividend payout ratio is presently 64.66%.

A number of analysts have weighed in on DRE shares. Stifel Nicolaus increased their target price on Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays set a $35.00 target price on Duke Realty and gave the stock a “hold” rating in a research note on Friday, October 11th. Morgan Stanley lowered Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 target price on the stock. in a research note on Monday, October 7th. Wells Fargo & Co increased their target price on Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, ValuEngine lowered Duke Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. 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 an average rating of “Buy” and a consensus price target of $39.03.

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.

Further Reading: Commodities

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)

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.