Wells Fargo & Company MN lessened its stake in shares of Duke Realty Corporation (NYSE:DRE) by 1.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,329 shares of the real estate investment trust’s stock after selling 2,187 shares during the quarter. Wells Fargo & Company MN owned approximately 0.05% of Duke Realty Corporation worth $4,986,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tredje AP fonden grew its stake in shares of Duke Realty Corporation by 4.0% in the second quarter. Tredje AP fonden now owns 39,310 shares of the real estate investment trust’s stock worth $1,099,000 after purchasing an additional 1,518 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Duke Realty Corporation in the second quarter worth $7,968,000. IFM Investors Pty Ltd grew its stake in shares of Duke Realty Corporation by 37.5% in the second quarter. IFM Investors Pty Ltd now owns 14,006 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 3,819 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Duke Realty Corporation in the second quarter worth $201,000. Finally, Timber Hill LLC bought a new stake in shares of Duke Realty Corporation in the second quarter worth $240,000. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently weighed in on DRE. J P Morgan Chase & Co cut shares of Duke Realty Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, September 26th. Bank of America Corporation cut shares of Duke Realty Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $30.00 in a research note on Friday, June 23rd. BidaskClub cut shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Duke Realty Corporation from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, October 2nd. Finally, Barclays PLC reduced their price objective on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.45.
In other Duke Realty Corporation news, EVP Peter D. Harrington sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.
Duke Realty Corporation (NYSE DRE) opened at 29.05 on Friday. Duke Realty Corporation has a 12-month low of $22.97 and a 12-month high of $30.14. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 7.16 and a beta of 0.93. The company has a 50-day moving average of $29.28 and a 200 day moving average of $28.39.
Duke Realty Corporation (NYSE:DRE) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $165.84 million for the quarter, compared to analyst estimates of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same quarter last year, the firm earned $0.30 EPS. Equities analysts expect that Duke Realty Corporation will post $3.71 EPS for the current fiscal year.
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.
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