TD Asset Management Inc. Raises Stock Position in Duke Realty Co. (NYSE:DRE)

TD Asset Management Inc. increased its holdings in shares of Duke Realty Co. (NYSE:DRE) by 55.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,181,195 shares of the real estate investment trust’s stock after purchasing an additional 423,240 shares during the period. TD Asset Management Inc. owned approximately 0.32% of Duke Realty worth $43,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of DRE. FMR LLC raised its holdings in shares of Duke Realty by 19.1% during the second quarter. FMR LLC now owns 21,715,657 shares of the real estate investment trust’s stock worth $768,517,000 after purchasing an additional 3,487,287 shares during the last quarter. Brookfield Asset Management Inc. purchased a new position in Duke Realty in the second quarter valued at $88,792,000. Daiwa Securities Group Inc. increased its holdings in Duke Realty by 16.5% in the third quarter. Daiwa Securities Group Inc. now owns 12,046,526 shares of the real estate investment trust’s stock valued at $444,516,000 after buying an additional 1,709,228 shares in the last quarter. Morgan Stanley increased its holdings in Duke Realty by 93.4% in the first quarter. Morgan Stanley now owns 2,354,118 shares of the real estate investment trust’s stock valued at $76,227,000 after buying an additional 1,137,186 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Duke Realty by 218.6% in the third quarter. BNP Paribas Arbitrage SA now owns 400,755 shares of the real estate investment trust’s stock valued at $14,788,000 after buying an additional 274,988 shares in the last quarter. 89.63% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on DRE. Morgan Stanley lifted their price objective on shares of Duke Realty from $31.50 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Mizuho lifted their price objective on shares of Duke Realty from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Zacks Investment Research raised shares of Duke Realty from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Friday, October 9th. UBS Group started coverage on shares of Duke Realty in a research report on Friday, October 16th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Duke Realty in a research report on Tuesday, September 29th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $40.55.

DRE opened at $38.41 on Friday. The firm has a market capitalization of $14.29 billion, a PE ratio of 66.22, a PEG ratio of 5.81 and a beta of 0.57. Duke Realty Co. has a twelve month low of $25.19 and a twelve month high of $43.45. The firm’s 50-day moving average price is $39.20 and its 200 day moving average price is $37.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Duke Realty (NYSE:DRE) last posted its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). Duke Realty had a return on equity of 4.30% and a net margin of 22.76%. As a group, analysts predict that Duke Realty Co. will post 1.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Duke Realty’s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 2.66%. Duke Realty’s payout ratio is presently 70.83%.

Duke Realty Company Profile

Duke Realty Corporation owns and operates approximately 156 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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