Lord Abbett & CO. LLC decreased its position in shares of Duke Realty Co. (NYSE:DRE) by 2.4% during the third quarter, Holdings Channel.com reports. The firm owned 473,220 shares of the real estate investment trust’s stock after selling 11,860 shares during the period. Lord Abbett & CO. LLC’s holdings in Duke Realty were worth $22,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new position in shares of Duke Realty in the 2nd quarter valued at $38,000. Penserra Capital Management LLC boosted its stake in shares of Duke Realty by 31.3% during the 2nd quarter. Penserra Capital Management LLC now owns 1,221 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 291 shares in the last quarter. Berman Capital Advisors LLC grew its position in shares of Duke Realty by 55.0% during the 3rd quarter. Berman Capital Advisors LLC now owns 1,259 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 447 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Duke Realty in the 2nd quarter valued at about $66,000. Finally, Muzinich & Co. Inc. acquired a new position in Duke Realty in the 2nd quarter worth about $78,000. 94.88% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on DRE shares. Mizuho boosted their price target on shares of Duke Realty from $50.00 to $65.00 in a report on Thursday. Royal Bank of Canada upgraded shares of Duke Realty from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $65.00 in a research report on Friday, November 19th. Wells Fargo & Company downgraded Duke Realty from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, December 14th. Raymond James upped their price objective on shares of Duke Realty from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, January 10th. Finally, BMO Capital Markets downgraded shares of Duke Realty from an “outperform” rating to a “market perform” rating and set a $68.00 target price on the stock. in a research note on Friday, January 7th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $58.83.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.86. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $257.16 million. Duke Realty had a net margin of 82.95% and a return on equity of 16.67%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, analysts anticipate that Duke Realty Co. will post 1.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th were paid a $0.28 dividend. This is a boost from Duke Realty’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Monday, November 15th. Duke Realty’s dividend payout ratio (DPR) is presently 46.09%.
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.
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 Co. (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.