Sei Investments Co. trimmed its holdings in shares of Duke Realty Co. (NYSE:DRE) by 23.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,599 shares of the real estate investment trust’s stock after selling 323,161 shares during the quarter. Sei Investments Co.’s holdings in Duke Realty were worth $43,365,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Duke Realty during the 4th quarter valued at about $201,627,000. Baillie Gifford & Co. purchased a new position in Duke Realty during the 1st quarter valued at about $57,418,000. Resolution Capital Ltd boosted its holdings in Duke Realty by 74.5% during the 4th quarter. Resolution Capital Ltd now owns 3,156,556 shares of the real estate investment trust’s stock valued at $126,168,000 after acquiring an additional 1,347,417 shares during the period. Northern Trust Corp boosted its holdings in Duke Realty by 19.8% during the 4th quarter. Northern Trust Corp now owns 6,975,227 shares of the real estate investment trust’s stock valued at $278,799,000 after acquiring an additional 1,151,867 shares during the period. Finally, BlackRock Inc. boosted its holdings in Duke Realty by 2.3% during the 4th quarter. BlackRock Inc. now owns 38,017,487 shares of the real estate investment trust’s stock valued at $1,519,558,000 after acquiring an additional 858,644 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on DRE. Mizuho lifted their price objective on Duke Realty from $44.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, April 21st. Raymond James boosted their target price on Duke Realty from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, April 30th. Wells Fargo & Company boosted their target price on Duke Realty from $45.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley upped their target price on Duke Realty from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, May 20th. Finally, Royal Bank of Canada upped their price target on Duke Realty from $43.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.25.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Duke Realty had a return on equity of 6.97% and a net margin of 34.07%. The firm had revenue of $258.18 million for the quarter, compared to analysts’ expectations of $252.25 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Duke Realty’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts anticipate that Duke Realty Co. will post 1.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.02 annualized dividend and a yield of 2.05%. Duke Realty’s dividend payout ratio (DPR) is currently 67.11%.
In related news, CFO Mark A. Denien sold 46,000 shares of Duke Realty stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $46.43, for a total transaction of $2,135,780.00. Following the sale, the chief financial officer now directly owns 46,000 shares of the company’s stock, valued at $2,135,780. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James B. Connor sold 20,000 shares of Duke Realty stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $41.06, for a total value of $821,200.00. Following the sale, the chief executive officer now directly owns 141,758 shares in the company, valued at $5,820,583.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,680 shares of company stock worth $4,439,203. Corporate insiders own 0.41% of the company’s stock.
Duke Realty 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.
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