Westpac Banking Corp decreased its stake in shares of Duke Realty Corp (NYSE:DRE) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 567,699 shares of the real estate investment trust’s stock after selling 16,980 shares during the period. Westpac Banking Corp’s holdings in Duke Realty were worth $17,360,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. PGGM Investments increased its position in Duke Realty by 106.7% in the 1st quarter. PGGM Investments now owns 13,903,143 shares of the real estate investment trust’s stock valued at $425,158,000 after acquiring an additional 7,175,343 shares during the period. Centersquare Investment Management LLC boosted its position in Duke Realty by 434.8% during the first quarter. Centersquare Investment Management LLC now owns 4,789,011 shares of the real estate investment trust’s stock worth $146,448,000 after purchasing an additional 3,893,531 shares during the period. Norges Bank bought a new position in Duke Realty during the fourth quarter worth about $93,469,000. Millennium Management LLC boosted its position in Duke Realty by 176.6% during the fourth quarter. Millennium Management LLC now owns 2,363,114 shares of the real estate investment trust’s stock worth $61,205,000 after purchasing an additional 1,508,876 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Duke Realty by 2,458.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,002,434 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 963,250 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Shares of DRE stock traded up $0.28 during trading hours on Wednesday, reaching $31.70. The stock had a trading volume of 29,156 shares, compared to its average volume of 2,008,378. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.60. Duke Realty Corp has a 12 month low of $24.67 and a 12 month high of $31.86. The firm has a market capitalization of $11.31 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 4.63 and a beta of 0.74.

Duke Realty (NYSE:DRE) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Duke Realty had a net margin of 36.32% and a return on equity of 7.37%. The company had revenue of $209.97 million during the quarter, compared to analyst estimates of $205.45 million. During the same period last year, the business earned $0.30 earnings per share. Duke Realty’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Duke Realty Corp will post 1.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 16th were given a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.71%. Duke Realty’s dividend payout ratio (DPR) is currently 64.66%.

A number of brokerages have weighed in on DRE. Zacks Investment Research lowered shares of Duke Realty from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. BTIG Research increased their target price on shares of Duke Realty from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Bank of America lowered shares of Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 target price for the company. in a research report on Thursday, May 16th. Goldman Sachs Group began coverage on shares of Duke Realty in a research report on Wednesday, May 15th. They set a “buy” rating and a $33.00 target price for the company. Finally, Barclays reiterated a “hold” rating and set a $28.00 target price on shares of Duke Realty in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Duke Realty currently has a consensus rating of “Buy” and an average target price of $35.35.

WARNING: This piece of content was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://theolympiareport.com/2019/06/12/duke-realty-corp-nysedre-shares-sold-by-westpac-banking-corp.html.

Duke Realty Company 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.

Featured Article: Investing strategies using the yield curve

Want to see what other hedge funds are holding DRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Realty Corp (NYSE:DRE).

Institutional Ownership by Quarter for Duke Realty (NYSE:DRE)

Receive News & Ratings for Duke Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Realty and related companies with MarketBeat.com's FREE daily email newsletter.