Duke Realty Co. (NYSE:DRE) Stake Cut by Amalgamated Bank

Amalgamated Bank trimmed its stake in Duke Realty Co. (NYSE:DREGet Rating) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 95,495 shares of the real estate investment trust’s stock after selling 6,791 shares during the quarter. Amalgamated Bank’s holdings in Duke Realty were worth $5,544,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC acquired a new position in shares of Duke Realty during the fourth quarter valued at $29,000. Bank of New Hampshire acquired a new position in shares of Duke Realty during the first quarter valued at $29,000. Riverview Trust Co acquired a new position in shares of Duke Realty during the first quarter valued at $31,000. Benjamin Edwards Inc. acquired a new position in shares of Duke Realty during the first quarter valued at $32,000. Finally, Westside Investment Management Inc. acquired a new position in shares of Duke Realty during the first quarter valued at $52,000. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird lowered Duke Realty from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $74.00 in a report on Thursday, July 14th. Truist Financial lowered their target price on Duke Realty from $63.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, May 31st. Edward Jones lowered Duke Realty from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Wells Fargo & Company lifted their target price on Duke Realty from $56.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday, August 11th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Duke Realty presently has a consensus rating of “Hold” and an average price target of $63.75.

Duke Realty Trading Down 0.8 %

Shares of DRE opened at $53.47 on Tuesday. The business’s 50-day moving average price is $60.27 and its 200 day moving average price is $56.94. The stock has a market capitalization of $20.59 billion, a P/E ratio of 21.47, a P/E/G ratio of 3.60 and a beta of 0.72. Duke Realty Co. has a 1-year low of $47.12 and a 1-year high of $66.22. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

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). The company had revenue of $280.15 million during the quarter, compared to analysts’ expectations of $279.80 million. Duke Realty had a return on equity of 15.66% and a net margin of 85.63%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. Analysts expect that Duke Realty Co. will post 1.91 earnings per share for the current year.

Duke Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 2.09%. Duke Realty’s payout ratio is presently 44.98%.

Insiders Place Their Bets

In other Duke Realty news, COO Steven W. Schnur sold 2,707 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $65.03, for a total transaction of $176,036.21. Following the completion of the sale, the chief operating officer now directly owns 6,437 shares in the company, valued at approximately $418,598.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Duke Realty news, COO Steven W. Schnur sold 2,707 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $65.03, for a total transaction of $176,036.21. Following the completion of the sale, the chief operating officer now directly owns 6,437 shares in the company, valued at approximately $418,598.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven W. Schnur sold 4,431 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $62.19, for a total value of $275,563.89. Following the sale, the chief operating officer now owns 2,006 shares of the company’s stock, valued at $124,753.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,138 shares of company stock worth $9,149,800. 0.44% of the stock is currently owned by company insiders.

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

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

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