Long Pond Capital LP Takes Position in Duke Realty Corp (NYSE:DRE)

Long Pond Capital LP bought a new stake in Duke Realty Corp (NYSE:DRE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,172,641 shares of the real estate investment trust’s stock, valued at approximately $37,067,000. Duke Realty makes up approximately 1.1% of Long Pond Capital LP’s investment portfolio, making the stock its 22nd biggest position. Long Pond Capital LP owned approximately 0.33% of Duke Realty at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Dana Investment Advisors Inc. bought a new position in shares of Duke Realty in the second quarter valued at approximately $278,000. ETRADE Capital Management LLC lifted its holdings in Duke Realty by 3.3% during the second quarter. ETRADE Capital Management LLC now owns 51,397 shares of the real estate investment trust’s stock worth $1,625,000 after acquiring an additional 1,627 shares during the period. United Capital Financial Advisers LLC lifted its holdings in Duke Realty by 5.2% during the second quarter. United Capital Financial Advisers LLC now owns 30,691 shares of the real estate investment trust’s stock worth $970,000 after acquiring an additional 1,526 shares during the period. Profund Advisors LLC lifted its holdings in Duke Realty by 18.0% during the second quarter. Profund Advisors LLC now owns 29,025 shares of the real estate investment trust’s stock worth $917,000 after acquiring an additional 4,429 shares during the period. Finally, Providence Capital Advisors LLC lifted its holdings in Duke Realty by 2.9% during the second quarter. Providence Capital Advisors LLC now owns 50,148 shares of the real estate investment trust’s stock worth $1,585,000 after acquiring an additional 1,395 shares during the period. Institutional investors own 93.42% of the company’s stock.

A number of brokerages recently commented on DRE. Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a report on Wednesday, June 19th. Bank of America lowered Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 price target on the stock. in a report on Thursday, May 16th. Stifel Nicolaus lifted their price target on Duke Realty from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Scotiabank upgraded Duke Realty from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $38.35.

Shares of DRE opened at $32.39 on Friday. The firm has a market cap of $11.61 billion, a PE ratio of 24.35, a PEG ratio of 5.04 and a beta of 0.73. The stock’s fifty day moving average price is $33.12 and its two-hundred day moving average price is $31.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.90 and a quick ratio of 1.90. Duke Realty Corp has a 1 year low of $24.67 and a 1 year high of $33.83.

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

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.215 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.86 annualized dividend and a dividend yield of 2.66%. Duke Realty’s payout ratio is presently 64.66%.

In other Duke Realty news, EVP Nicholas C. Anthony sold 7,806 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.61, for a total value of $254,553.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter D. Harrington sold 10,297 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $33.30, for a total value of $342,890.10. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.

Further Reading: What defines an oversold asset?

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.