Muzinich & Co. Inc. acquired a new stake in shares of Duke Realty Co. (NYSE:DRE) during the second quarter, HoldingsChannel reports. The fund acquired 1,642 shares of the real estate investment trust’s stock, valued at approximately $78,000.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of Duke Realty by 119.9% in the 2nd quarter. SG Americas Securities LLC now owns 248,036 shares of the real estate investment trust’s stock worth $11,745,000 after buying an additional 135,248 shares during the period. Handelsbanken Fonder AB grew its position in shares of Duke Realty by 38.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 141,380 shares of the real estate investment trust’s stock worth $6,694,000 after buying an additional 39,140 shares during the period. ProShare Advisors LLC grew its position in shares of Duke Realty by 2.7% in the 2nd quarter. ProShare Advisors LLC now owns 138,434 shares of the real estate investment trust’s stock worth $6,555,000 after buying an additional 3,696 shares during the period. Van ECK Associates Corp grew its position in shares of Duke Realty by 1.4% in the 1st quarter. Van ECK Associates Corp now owns 60,231 shares of the real estate investment trust’s stock worth $2,525,000 after buying an additional 823 shares during the period. Finally, PGGM Investments grew its position in shares of Duke Realty by 173.7% in the 2nd quarter. PGGM Investments now owns 274,575 shares of the real estate investment trust’s stock worth $13,001,000 after buying an additional 174,246 shares during the period. 96.39% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Duke Realty in a research report on Wednesday, September 1st. They issued an “overweight” rating and a $57.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Duke Realty from $49.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 3rd. Truist Securities upped their price target on shares of Duke Realty from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 23rd. Raymond James upped their price target on shares of Duke Realty from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Finally, Robert W. Baird upped their price target on shares of Duke Realty from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Duke Realty presently has an average rating of “Buy” and a consensus target price of $52.46.
DRE traded up $0.53 during midday trading on Thursday, hitting $52.88. 24,439 shares of the company traded hands, compared to its average volume of 1,801,583. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $20.01 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 4.34 and a beta of 0.54. The company’s 50-day moving average is $50.62 and its 200 day moving average is $48.30. Duke Realty Co. has a 52 week low of $36.80 and a 52 week high of $53.72.
Duke Realty (NYSE:DRE) last posted its earnings results on Wednesday, July 28th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Duke Realty had a net margin of 45.52% and a return on equity of 9.40%. On average, sell-side analysts predict that Duke Realty Co. will post 1.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Monday, August 16th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, August 13th. Duke Realty’s dividend payout ratio (DPR) is presently 67.11%.
Duke Realty Profile
Duke Realty Corp. operates as a real estate development company, which specializes in the ownership, management and development of industrial and medical office properties. It offers property and asset management, leasing, construction and other tenant related services. Its diversified portfolio of rental properties encompass various business houses such as government services, manufacturing, retailing, wholesale trade, distribution, healthcare and professional services.
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