Retirement Systems of Alabama Sells 2,684 Shares of Duke Realty Corp (DRE)

Retirement Systems of Alabama cut its holdings in Duke Realty Corp (NYSE:DRE) by 1.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,756 shares of the real estate investment trust’s stock after selling 2,684 shares during the period. Retirement Systems of Alabama’s holdings in Duke Realty were worth $4,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy Capital Management Inc. raised its holdings in shares of Duke Realty by 11.8% in the second quarter. Murphy Capital Management Inc. now owns 18,032 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 1,900 shares during the last quarter. BB&T Securities LLC increased its holdings in Duke Realty by 19.4% during the second quarter. BB&T Securities LLC now owns 12,033 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 1,951 shares during the last quarter. Putnam Investments LLC increased its holdings in Duke Realty by 0.7% during the second quarter. Putnam Investments LLC now owns 331,176 shares of the real estate investment trust’s stock worth $9,614,000 after buying an additional 2,407 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Duke Realty by 0.4% during the second quarter. Victory Capital Management Inc. now owns 643,434 shares of the real estate investment trust’s stock worth $18,679,000 after buying an additional 2,581 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Duke Realty by 5.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 51,819 shares of the real estate investment trust’s stock worth $1,504,000 after buying an additional 2,643 shares during the last quarter. Institutional investors own 93.72% of the company’s stock.

Shares of DRE opened at $28.20 on Wednesday. The firm has a market cap of $9.87 billion, a P/E ratio of 22.74, a PEG ratio of 4.30 and a beta of 0.54. Duke Realty Corp has a 1-year low of $24.30 and a 1-year high of $29.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.60 and a current ratio of 2.60.

Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $196.91 million for the quarter, compared to the consensus estimate of $197.78 million. Duke Realty had a net margin of 56.94% and a return on equity of 8.01%. On average, analysts predict that Duke Realty Corp will post 1.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 3.05%. This is a boost from Duke Realty’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 14th. Duke Realty’s payout ratio is 64.52%.

In other Duke Realty news, Director Melanie R. Sabelhaus sold 2,500 shares of Duke Realty stock in a transaction on Monday, October 29th. The shares were sold at an average price of $27.98, for a total transaction of $69,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter D. Harrington sold 16,500 shares of Duke Realty stock in a transaction on Monday, September 17th. The stock was sold at an average price of $28.98, for a total transaction of $478,170.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of brokerages recently weighed in on DRE. Citigroup boosted their target price on shares of Duke Realty from $30.50 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. SunTrust Banks set a $28.00 target price on shares of Duke Realty and gave the stock a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research downgraded shares of Duke Realty from a “buy” rating to a “sell” rating in a report on Monday, July 16th. Royal Bank of Canada restated a “hold” rating and set a $30.00 target price on shares of Duke Realty in a report on Monday, July 30th. Finally, BMO Capital Markets set a $29.00 target price on shares of Duke Realty and gave the stock a “hold” rating in a report on Wednesday, July 25th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Duke Realty currently has an average rating of “Hold” and a consensus target price of $29.89.

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About Duke Realty

Duke Realty Corporation owns and operates approximately 150 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.

See Also: Dividend Aristocrat Index

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

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