UBS Oconnor LLC Cuts Stock Holdings in Duke Realty Corp (NYSE:DRE)

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UBS Oconnor LLC reduced its position in shares of Duke Realty Corp (NYSE:DRE) by 23.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 83,000 shares of the real estate investment trust’s stock after selling 25,300 shares during the period. UBS Oconnor LLC’s holdings in Duke Realty were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 6 Meridian grew its position in Duke Realty by 2.0% during the second quarter. 6 Meridian now owns 17,211 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 331 shares during the period. AlphaCrest Capital Management LLC grew its position in Duke Realty by 3.2% during the first quarter. AlphaCrest Capital Management LLC now owns 14,134 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 434 shares during the period. Huntington National Bank grew its position in Duke Realty by 18.0% during the second quarter. Huntington National Bank now owns 2,934 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 448 shares during the period. Meeder Asset Management Inc. grew its position in Duke Realty by 2.1% during the second quarter. Meeder Asset Management Inc. now owns 26,551 shares of the real estate investment trust’s stock worth $839,000 after buying an additional 545 shares during the period. Finally, World Asset Management Inc grew its position in Duke Realty by 2.2% during the second quarter. World Asset Management Inc now owns 27,093 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 589 shares during the period. 93.48% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Nicholas C. Anthony sold 7,806 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.61, for a total transaction of $254,553.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter D. Harrington sold 10,297 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total transaction of $342,890.10. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Several research analysts have weighed in on DRE shares. Stifel Nicolaus upped their target price on shares of Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank upgraded shares of Duke Realty from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research lowered shares of Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research report on Wednesday, June 19th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.35.

Shares of DRE stock traded up $0.09 during trading hours on Thursday, hitting $33.36. The company’s stock had a trading volume of 3,056,187 shares, compared to its average volume of 1,613,934. The business has a fifty day moving average of $33.03 and a 200-day moving average of $31.63. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 5.14 and a beta of 0.73. Duke Realty Corp has a twelve month low of $24.67 and a twelve month high of $33.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.60.

Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.15). The business had revenue of $213.11 million during the quarter, compared to analyst estimates of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that Duke Realty Corp will post 1.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.86 annualized dividend and a dividend yield of 2.58%. Duke Realty’s dividend payout ratio is presently 64.66%.

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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