DnB Asset Management AS Sells 424 Shares of Duke Realty Co. (NYSE:DRE)

DnB Asset Management AS trimmed its position in Duke Realty Co. (NYSE:DREGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,052 shares of the real estate investment trust’s stock after selling 424 shares during the period. DnB Asset Management AS’s holdings in Duke Realty were worth $3,300,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Duke Realty by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 62,173,808 shares of the real estate investment trust’s stock valued at $3,609,811,000 after purchasing an additional 1,308,962 shares during the period. BlackRock Inc. lifted its holdings in shares of Duke Realty by 3.9% during the 4th quarter. BlackRock Inc. now owns 38,729,322 shares of the real estate investment trust’s stock worth $2,542,194,000 after acquiring an additional 1,450,374 shares during the last quarter. State Street Corp lifted its holdings in shares of Duke Realty by 7.9% during the 1st quarter. State Street Corp now owns 25,824,883 shares of the real estate investment trust’s stock worth $1,499,393,000 after acquiring an additional 1,887,454 shares during the last quarter. Norges Bank bought a new stake in shares of Duke Realty during the 4th quarter worth $446,572,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Duke Realty by 10.8% during the 4th quarter. Nuveen Asset Management LLC now owns 6,359,193 shares of the real estate investment trust’s stock worth $417,416,000 after acquiring an additional 619,464 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Duke Realty

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

Duke Realty Stock Performance

Duke Realty stock opened at $52.58 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.24 billion, a PE ratio of 21.12, a P/E/G ratio of 3.60 and a beta of 0.72. The firm has a fifty day simple moving average of $60.18 and a two-hundred day simple moving average of $56.91. Duke Realty Co. has a twelve month low of $47.12 and a twelve month high of $66.22.

Duke Realty (NYSE:DREGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). Duke Realty had a net margin of 85.63% and a return on equity of 15.66%. The firm had revenue of $280.15 million during the quarter, compared to analysts’ expectations of $279.80 million. During the same quarter in the previous year, the firm posted $0.44 EPS. Duke Realty’s revenue was up 10.3% compared to the same quarter last year. Research analysts expect that Duke Realty Co. will post 1.91 EPS for the current year.

Duke Realty Dividend Announcement

The company 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, September 14th. Duke Realty’s payout ratio is 44.98%.

Wall Street Analyst Weigh In

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

Duke Realty Profile

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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.

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

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