Municipal Employees Retirement System of Michigan Sells 128,070 Shares of Duke Realty Corp (DRE)

Municipal Employees Retirement System of Michigan cut its holdings in Duke Realty Corp (NYSE:DRE) by 93.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,190 shares of the real estate investment trust’s stock after selling 128,070 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Duke Realty were worth $265,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Inc. boosted its holdings in Duke Realty by 0.3% during the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 12 shares in the last quarter. First Personal Financial Services boosted its holdings in Duke Realty by 1.2% during the second quarter. First Personal Financial Services now owns 3,931 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 46 shares in the last quarter. BB&T Securities LLC boosted its holdings in Duke Realty by 1.6% during the second quarter. BB&T Securities LLC now owns 7,828 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 125 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Duke Realty by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,779 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 311 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Duke Realty by 12.6% during the second quarter. Toronto Dominion Bank now owns 4,369 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 488 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.

Shares of Duke Realty Corp (NYSE DRE) traded up $0.10 during midday trading on Wednesday, hitting $27.81. 1,865,900 shares of the company’s stock traded hands, compared to its average volume of 2,677,220. Duke Realty Corp has a 12 month low of $23.93 and a 12 month high of $30.14. The stock has a market capitalization of $9,868.66, a P/E ratio of 22.17, a PEG ratio of 5.11 and a beta of 0.90. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.45.

Duke Realty (NYSE:DRE) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $169.61 million during the quarter, compared to analyst estimates of $168.75 million. Duke Realty had a net margin of 178.66% and a return on equity of 6.36%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. equities research analysts expect that Duke Realty Corp will post 1.24 earnings per share for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st were given a $0.85 dividend. This represents a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, November 30th. This is a positive change from Duke Realty’s previous special dividend of $0.20. Duke Realty’s payout ratio is currently 19.18%.

DRE has been the topic of a number of research analyst reports. BidaskClub raised shares of Duke Realty from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price target on shares of Duke Realty in a report on Thursday, September 21st. BMO Capital Markets set a $30.00 price target on shares of Duke Realty and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, J P Morgan Chase & Co downgraded shares of Duke Realty from an “overweight” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.55.

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Duke Realty 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.

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

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