Canada Pension Plan Investment Board Has $38.87 Million Stock Position in Duke Realty Co. (NYSE:DRE)

Canada Pension Plan Investment Board lessened its stake in Duke Realty Co. (NYSE:DREGet Rating) by 50.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,543 shares of the real estate investment trust’s stock after selling 682,560 shares during the period. Canada Pension Plan Investment Board owned 0.17% of Duke Realty worth $38,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new position in shares of Duke Realty during the 4th quarter worth about $29,000. Bank of New Hampshire bought a new position in Duke Realty during the first quarter worth $29,000. Riverview Trust Co bought a new position in Duke Realty during the first quarter worth $31,000. Benjamin Edwards Inc. bought a new stake in Duke Realty in the first quarter valued at $32,000. Finally, Westside Investment Management Inc. bought a new stake in shares of Duke Realty during the first quarter worth about $52,000. Institutional investors own 95.44% of the company’s stock.

Duke Realty Stock Performance

NYSE DRE opened at $60.46 on Friday. Duke Realty Co. has a 1-year low of $47.12 and a 1-year high of $66.22. The company has a market cap of $23.28 billion, a P/E ratio of 24.28, a P/E/G ratio of 3.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50-day moving average of $60.20 and a two-hundred day moving average of $56.69.

Duke Realty (NYSE:DREGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). Duke Realty had a return on equity of 15.66% and a net margin of 85.63%. The business had revenue of $280.15 million for the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that Duke Realty Co. will post 1.91 EPS for the current year.

Duke Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, September 14th. Duke Realty’s dividend payout ratio is currently 44.98%.

Insider Buying and Selling at Duke Realty

In other Duke Realty news, CFO Mark A. Denien sold 140,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $62.13, for a total transaction of $8,698,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Duke Realty news, COO Steven W. Schnur sold 2,707 shares of Duke Realty stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $65.03, for a total value of $176,036.21. Following the completion of the transaction, the chief operating officer now directly owns 6,437 shares in the company, valued at $418,598.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark A. Denien sold 140,000 shares of Duke Realty stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $62.13, for a total transaction of $8,698,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,138 shares of company stock worth $9,149,800. 0.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Duke Realty from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $68.00 to $65.00 in a research report on Monday, May 16th. Robert W. Baird cut shares of Duke Realty from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $74.00 in a research report on Thursday, July 14th. Wells Fargo & Company raised their target price on shares of Duke Realty from $56.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 11th. Edward Jones lowered shares of Duke Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, Truist Financial reduced their price objective 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Duke Realty presently has a consensus rating of “Hold” and an average target price of $62.78.

About Duke Realty

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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.

See Also

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

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