Highstreet Asset Management Inc. Invests $813,000 in Duke Realty Corporation (DRE) Stock

Highstreet Asset Management Inc. bought a new position in shares of Duke Realty Corporation (NYSE:DRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 28,224 shares of the real estate investment trust’s stock, valued at approximately $813,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DRE. Teachers Advisors LLC increased its holdings in Duke Realty Corporation by 187.9% during the 1st quarter. Teachers Advisors LLC now owns 1,178,497 shares of the real estate investment trust’s stock worth $30,959,000 after purchasing an additional 769,159 shares during the period. AQR Capital Management LLC increased its holdings in Duke Realty Corporation by 7.0% during the 1st quarter. AQR Capital Management LLC now owns 241,610 shares of the real estate investment trust’s stock worth $6,347,000 after purchasing an additional 15,823 shares during the period. Tudor Investment Corp ET AL purchased a new stake in Duke Realty Corporation during the 1st quarter worth about $236,000. Skandinaviska Enskilda Banken AB publ increased its holdings in Duke Realty Corporation by 4.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 53,448 shares of the real estate investment trust’s stock worth $1,404,000 after purchasing an additional 2,300 shares during the period. Finally, DnB Asset Management AS increased its holdings in Duke Realty Corporation by 32.8% during the 2nd quarter. DnB Asset Management AS now owns 34,842 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 8,600 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Duke Realty Corporation (DRE) traded up $0.15 on Tuesday, hitting $29.11. The stock had a trading volume of 2,001,300 shares, compared to its average volume of 2,735,448. The stock has a market cap of $10,390.00, a P/E ratio of 23.17, a P/E/G ratio of 5.34 and a beta of 0.91. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.45. Duke Realty Corporation has a fifty-two week low of $22.97 and a fifty-two week high of $30.14.

Duke Realty Corporation (NYSE:DRE) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $169.61 million for the quarter, compared to the consensus estimate of $168.75 million. Duke Realty Corporation had a return on equity of 6.36% and a net margin of 178.66%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. analysts forecast that Duke Realty Corporation will post 1.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, November 15th. This is an increase from Duke Realty Corporation’s previous quarterly dividend of $0.19. Duke Realty Corporation’s dividend payout ratio (DPR) is currently 102.70%.

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Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Duke Realty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird cut their price target on Duke Realty Corporation from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. BMO Capital Markets set a $30.00 price target on Duke Realty Corporation and gave the stock a “hold” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co downgraded Duke Realty Corporation 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Duke Realty Corporation in a report on Thursday, September 21st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $29.55.

About Duke Realty Corporation

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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