Russell Investments Group Ltd. Decreases Stock Position in Duke Realty Corp (NYSE:DRE)
Russell Investments Group Ltd. lessened its stake in Duke Realty Corp (NYSE:DRE) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,430 shares of the real estate investment trust’s stock after selling 2,752 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Duke Realty worth $6,119,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Duke Realty during the 2nd quarter valued at approximately $38,000. Huntington National Bank boosted its stake in shares of Duke Realty by 18.0% during the 2nd quarter. Huntington National Bank now owns 2,934 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 448 shares during the last quarter. Ibex Wealth Advisors purchased a new position in shares of Duke Realty during the 2nd quarter valued at approximately $103,000. Exane Derivatives boosted its stake in shares of Duke Realty by 23.8% during the 2nd quarter. Exane Derivatives now owns 6,537 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 1,256 shares during the last quarter. Finally, Horizon Investments LLC purchased a new position in shares of Duke Realty during the 1st quarter valued at approximately $200,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.
In other Duke Realty 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 value of $342,890.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nicholas C. Anthony sold 7,806 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.15). The firm had revenue of $213.11 million for the quarter, compared to analyst estimates of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, equities research analysts expect that Duke Realty Corp will post 1.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, August 14th. Duke Realty’s dividend payout ratio is presently 64.66%.
DRE has been the subject of several research analyst reports. Bank of America cut Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 target price for the company. in a research note on Thursday, May 16th. Scotiabank raised Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Stifel Nicolaus upped their price target on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.35.
Duke Realty Company 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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