Empire Life Investments Inc. boosted its position in shares of Duke Realty Corp (NYSE:DRE) by 27.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,858 shares of the real estate investment trust’s stock after acquiring an additional 1,458 shares during the period. Empire Life Investments Inc.’s holdings in Duke Realty were worth $178,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. acquired a new stake in shares of Duke Realty in the third quarter valued at about $103,000. ClariVest Asset Management LLC acquired a new stake in shares of Duke Realty in the third quarter valued at about $162,000. Marshall Wace North America L.P. acquired a new stake in shares of Duke Realty in the third quarter valued at about $204,000. First Hawaiian Bank purchased a new position in shares of Duke Realty in the third quarter worth about $208,000. Finally, Lourd Capital LLC purchased a new position in shares of Duke Realty in the third quarter worth about $217,000. Institutional investors own 93.15% of the company’s stock.
NYSE:DRE opened at $29.98 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $10.74 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 4.40 and a beta of 0.79. Duke Realty Corp has a twelve month low of $24.30 and a twelve month high of $30.12.
Duke Realty (NYSE:DRE) last issued its earnings results on Wednesday, January 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.17). Duke Realty had a return on equity of 8.02% and a net margin of 40.48%. The firm had revenue of $202.86 million for the quarter, compared to analysts’ expectations of $200.75 million. During the same period last year, the firm earned $0.30 earnings per share. Duke Realty’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, research analysts anticipate that Duke Realty Corp will post 1.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, February 13th. Duke Realty’s dividend payout ratio (DPR) is presently 64.66%.
In other Duke Realty news, EVP Nicholas C. Anthony sold 9,937 shares of Duke Realty stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $29.07, for a total transaction of $288,868.59. Following the transaction, the executive vice president now directly owns 28,016 shares of the company’s stock, valued at $814,425.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark A. Denien sold 46,328 shares of Duke Realty stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $29.49, for a total transaction of $1,366,212.72. Following the transaction, the chief financial officer now directly owns 7,059 shares in the company, valued at $208,169.91. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued a “buy” rating and issued a $30.00 price target on shares of Duke Realty in a research note on Wednesday, January 30th. Zacks Investment Research downgraded shares of Duke Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Wells Fargo & Co raised shares of Duke Realty from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $33.00 in a research note on Tuesday, December 11th. ValuEngine raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, SunTrust Banks raised shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $30.13.
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Duke Realty Company Profile
Duke Realty Corporation owns and operates approximately 150 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 listed on the S&P 500 Index.
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