HGI Capital Management LLC Trims Stake in Duke Realty Corp (NYSE:DRE)

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HGI Capital Management LLC cut its position in shares of Duke Realty Corp (NYSE:DRE) by 23.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 160,061 shares of the real estate investment trust’s stock after selling 47,902 shares during the period. Duke Realty accounts for approximately 3.0% of HGI Capital Management LLC’s holdings, making the stock its 9th largest holding. HGI Capital Management LLC’s holdings in Duke Realty were worth $5,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Eii Capital Management Inc. boosted its holdings in Duke Realty by 9.6% during the 2nd quarter. Eii Capital Management Inc. now owns 52,881 shares of the real estate investment trust’s stock valued at $1,672,000 after acquiring an additional 4,647 shares during the period. WINTON GROUP Ltd lifted its holdings in Duke Realty by 7.7% in the 2nd quarter. WINTON GROUP Ltd now owns 754,476 shares of the real estate investment trust’s stock worth $23,849,000 after buying an additional 53,770 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Duke Realty in the 2nd quarter worth approximately $331,000. Exane Derivatives lifted its holdings in Duke Realty by 23.8% in the 2nd quarter. Exane Derivatives now owns 6,537 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 1,256 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its holdings in Duke Realty by 7.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 109,437 shares of the real estate investment trust’s stock worth $3,459,000 after buying an additional 7,502 shares during the period. Hedge funds and other institutional investors own 92.43% of the company’s stock.

Several equities research analysts have weighed in on the company. Morgan Stanley cut Duke Realty from an “overweight” rating to an “equal weight” rating and set a $31.50 price objective for the company. in a report on Monday, October 7th. Wells Fargo & Co increased their price objective on Duke Realty from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Stifel Nicolaus increased their price objective on Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. ValuEngine cut Duke Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays set a $35.00 price objective on Duke Realty and gave the stock a “hold” rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.03.

Shares of NYSE:DRE traded up $0.29 during trading on Tuesday, hitting $35.05. The stock had a trading volume of 168,912 shares, compared to its average volume of 2,425,626. Duke Realty Corp has a 12 month low of $24.67 and a 12 month high of $36.04. The company has a market capitalization of $12.71 billion, a PE ratio of 26.35, a PEG ratio of 5.36 and a beta of 0.69. The firm’s fifty day moving average is $34.21 and its 200 day moving average is $32.63. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.55.

Duke Realty (NYSE:DRE) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.25. Duke Realty had a return on equity of 8.49% and a net margin of 40.04%. The firm had revenue of $215.37 million during the quarter, compared to analyst estimates of $215.83 million. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts expect that Duke Realty Corp will post 1.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a $0.235 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.94 annualized dividend and a dividend yield of 2.68%. This is a positive change from Duke Realty’s previous quarterly dividend of $0.22. Duke Realty’s dividend payout ratio is currently 64.66%.

In other Duke Realty news, EVP Peter D. Harrington sold 10,297 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total value of $342,890.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Duke Realty Profile

Duke Realty Corporation owns and operates approximately 153 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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Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

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