Vanguard Group Inc. Has $1.60 Billion Stake in Duke Realty Corporation (DRE)

Vanguard Group Inc. raised its holdings in shares of Duke Realty Corporation (NYSE:DRE) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,188,532 shares of the real estate investment trust’s stock after acquiring an additional 237,017 shares during the quarter. Vanguard Group Inc. owned approximately 16.08% of Duke Realty Corporation worth $1,598,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DRE. BlackRock Inc. raised its position in shares of Duke Realty Corporation by 1,882.9% during the 1st quarter. BlackRock Inc. now owns 42,270,388 shares of the real estate investment trust’s stock valued at $1,110,444,000 after purchasing an additional 40,138,665 shares during the period. Lasalle Investment Management Securities LLC raised its position in shares of Duke Realty Corporation by 5,386.3% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 6,857,824 shares of the real estate investment trust’s stock valued at $180,155,000 after purchasing an additional 6,732,824 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Duke Realty Corporation by 30.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,109,890 shares of the real estate investment trust’s stock valued at $226,671,000 after purchasing an additional 1,894,749 shares during the period. Russell Investments Group Ltd. raised its position in shares of Duke Realty Corporation by 355.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,886,452 shares of the real estate investment trust’s stock valued at $52,675,000 after purchasing an additional 1,472,089 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Duke Realty Corporation by 20.2% during the 1st quarter. Nuveen Asset Management LLC now owns 6,944,579 shares of the real estate investment trust’s stock valued at $182,434,000 after purchasing an additional 1,168,051 shares during the period. Hedge funds and other institutional investors own 93.65% of the company’s stock.

In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total transaction of $866,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Shares of Duke Realty Corporation (NYSE:DRE) opened at 29.11 on Friday. The company has a market capitalization of $10.36 billion, a P/E ratio of 7.17 and a beta of 0.93. The firm has a 50-day moving average of $29.16 and a 200-day moving average of $28.00. Duke Realty Corporation has a one year low of $22.97 and a one year high of $30.14.

Duke Realty Corporation (NYSE:DRE) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $165.84 million during the quarter, compared to analysts’ expectations of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same period in the prior year, the business posted $0.30 earnings per share. Analysts forecast that Duke Realty Corporation will post $3.71 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, August 14th. Duke Realty Corporation’s dividend payout ratio is presently 18.86%.

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Several analysts have recently commented on DRE shares. Royal Bank Of Canada restated a “buy” rating and set a $30.00 price objective on shares of Duke Realty Corporation in a research report on Wednesday, June 7th. Stifel Nicolaus raised their price objective on shares of Duke Realty Corporation from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Bank of America Corporation downgraded shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $30.00 in a research report on Friday, June 23rd. BidaskClub downgraded shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley raised their price objective on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.91.

Duke Realty Corporation Company Profile

Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.

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

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