Nordea Investment Management AB Purchases 242,460 Shares of Duke Realty Co. (NYSE:DRE)

Nordea Investment Management AB lifted its position in shares of Duke Realty Co. (NYSE:DREGet Rating) by 965.7% during the first quarter, Holdings Channel reports. The firm owned 267,567 shares of the real estate investment trust’s stock after acquiring an additional 242,460 shares during the period. Nordea Investment Management AB’s holdings in Duke Realty were worth $15,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in shares of Duke Realty during the fourth quarter valued at about $29,000. Massmutual Trust Co. FSB ADV purchased a new stake in Duke Realty during the fourth quarter worth about $30,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Duke Realty during the fourth quarter worth about $34,000. TAP Consulting LLC purchased a new stake in Duke Realty during the fourth quarter worth about $42,000. Finally, Consolidated Planning Corp purchased a new stake in Duke Realty during the third quarter worth about $60,000. 96.91% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on DRE shares. BMO Capital Markets upgraded shares of Duke Realty from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $68.00 to $65.00 in a report on Monday, May 16th. Mizuho decreased their price objective on shares of Duke Realty from $65.00 to $58.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Truist Financial reduced their target price on shares of Duke Realty from $63.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, May 31st. Wells Fargo & Company reduced their target price on shares of Duke Realty from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, June 6th. Finally, Edward Jones downgraded shares of Duke Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.60.

Shares of NYSE:DRE opened at $55.47 on Friday. The company has a 50 day moving average of $53.70 and a 200 day moving average of $56.62. The stock has a market cap of $21.33 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.55 and a beta of 0.74. Duke Realty Co. has a 12 month low of $47.03 and a 12 month high of $66.22. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.58.

Duke Realty (NYSE:DREGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.65 EPS for the quarter, beating the consensus estimate of $0.19 by $0.46. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $266.97 million. Duke Realty had a net margin of 93.39% and a return on equity of 17.47%. Duke Realty’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. On average, equities analysts forecast that Duke Realty Co. will post 1.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Monday, May 16th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 13th. This represents a $1.12 annualized dividend and a yield of 2.02%. Duke Realty’s dividend payout ratio is currently 41.64%.

About Duke Realty (Get Rating)

Duke Realty Corporation owns and operates approximately 159 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 a member of the S&P 500 Index.

Further Reading

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

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