Daiwa Securities Group Inc. Sells 1,550,414 Shares of Duke Realty Corp (DRE)
Daiwa Securities Group Inc. lessened its position in Duke Realty Corp (NYSE:DRE) by 23.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,933,572 shares of the real estate investment trust’s stock after selling 1,550,414 shares during the period. Duke Realty accounts for approximately 1.2% of Daiwa Securities Group Inc.’s holdings, making the stock its 29th biggest position. Daiwa Securities Group Inc.’s holdings in Duke Realty were worth $127,779,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd lifted its stake in shares of Duke Realty by 1,367.1% in the 3rd quarter. WINTON GROUP Ltd now owns 117,047 shares of the real estate investment trust’s stock worth $3,321,000 after acquiring an additional 109,069 shares during the period. Green Street Investors LLC acquired a new stake in shares of Duke Realty in the 3rd quarter worth $8,394,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Duke Realty in the 3rd quarter worth $103,000. Lourd Capital LLC acquired a new stake in shares of Duke Realty in the third quarter valued at about $217,000. Finally, Aperio Group LLC lifted its stake in shares of Duke Realty by 2.6% in the third quarter. Aperio Group LLC now owns 131,313 shares of the real estate investment trust’s stock valued at $3,725,000 after purchasing an additional 3,272 shares during the period. Institutional investors own 93.15% of the company’s stock.
DRE has been the subject of several recent analyst reports. BMO Capital Markets upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 9th. Wells Fargo & Co upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $33.00 in a research note on Tuesday, December 11th. SunTrust Banks upgraded shares of Duke Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. JPMorgan Chase & Co. upgraded shares of Duke Realty from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. Finally, BTIG Research upgraded shares of Duke Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Duke Realty currently has a consensus rating of “Buy” and an average price target of $30.13.
Shares of NYSE DRE opened at $29.98 on Monday. The company has a quick ratio of 2.60, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Duke Realty Corp has a 52 week low of $24.30 and a 52 week high of $30.12. The stock has a market capitalization of $10.74 billion, a P/E ratio of 22.54, a P/E/G ratio of 4.40 and a beta of 0.79.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.17). Duke Realty had a net margin of 40.48% and a return on equity of 8.02%. The company had revenue of $202.86 million during the quarter, compared to analyst estimates of $200.75 million. During the same quarter last year, the business earned $0.30 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts anticipate that Duke Realty Corp will post 1.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $0.86 annualized dividend and a yield of 2.87%. Duke Realty’s dividend payout ratio (DPR) is currently 64.66%.
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Duke Realty 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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