State Treasurer State of Michigan lowered its stake in shares of Duke Realty Corp (NYSE:DRE) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 104,400 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. State Treasurer State of Michigan’s holdings in Duke Realty were worth $2,841,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DRE. Brookfield Asset Management Inc. purchased a new position in shares of Duke Realty during the 2nd quarter worth approximately $130,756,000. Boston Partners purchased a new position in shares of Duke Realty during the 3rd quarter worth approximately $93,065,000. Lord Abbett & CO. LLC boosted its position in shares of Duke Realty by 95.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,973,900 shares of the real estate investment trust’s stock worth $83,121,000 after purchasing an additional 1,452,100 shares during the period. Duff & Phelps Investment Management Co. boosted its position in shares of Duke Realty by 44.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,732,853 shares of the real estate investment trust’s stock worth $78,761,000 after purchasing an additional 835,750 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Duke Realty by 336.5% during the 3rd quarter. Schroder Investment Management Group now owns 953,029 shares of the real estate investment trust’s stock worth $27,590,000 after purchasing an additional 734,693 shares during the period. 94.15% of the stock is owned by hedge funds and other institutional investors.

Duke Realty Corp (NYSE:DRE) opened at $25.37 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.43 and a quick ratio of 3.23. Duke Realty Corp has a 1 year low of $24.48 and a 1 year high of $30.14. The company has a market cap of $9,035.30, a P/E ratio of 5.56, a price-to-earnings-growth ratio of 4.58 and a beta of 0.77.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 3.15%. Duke Realty’s dividend payout ratio is presently 17.54%.

DRE has been the subject of a number of research analyst reports. Robert W. Baird set a $32.00 price objective on shares of Duke Realty and gave the stock a “buy” rating in a research report on Monday, February 5th. Citigroup raised shares of Duke Realty from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, December 14th. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Monday, October 30th. BMO Capital Markets reissued a “hold” rating and issued a $28.00 price target on shares of Duke Realty in a research report on Wednesday, January 31st. Finally, SunTrust Banks set a $27.00 price target on shares of Duke Realty and gave the company a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Duke Realty presently has an average rating of “Hold” and a consensus target price of $29.82.

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About Duke Realty

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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