Long Pond Capital LP Invests $37.07 Million in Duke Realty Corp (NYSE:DRE)

Long Pond Capital LP acquired a new position in Duke Realty Corp (NYSE:DRE) in the second quarter, Holdings Channel.com reports. The firm acquired 1,172,641 shares of the real estate investment trust’s stock, valued at approximately $37,067,000. Duke Realty accounts for approximately 1.1% of Long Pond Capital LP’s investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dana Investment Advisors Inc. bought a new stake in shares of Duke Realty in the 2nd quarter valued at about $278,000. ETRADE Capital Management LLC lifted its stake in shares of Duke Realty by 3.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 51,397 shares of the real estate investment trust’s stock valued at $1,625,000 after acquiring an additional 1,627 shares during the last quarter. United Capital Financial Advisers LLC lifted its stake in shares of Duke Realty by 5.2% in the 2nd quarter. United Capital Financial Advisers LLC now owns 30,691 shares of the real estate investment trust’s stock valued at $970,000 after acquiring an additional 1,526 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Duke Realty by 18.0% in the 2nd quarter. Profund Advisors LLC now owns 29,025 shares of the real estate investment trust’s stock valued at $917,000 after acquiring an additional 4,429 shares during the last quarter. Finally, Providence Capital Advisors LLC lifted its stake in shares of Duke Realty by 2.9% in the 2nd quarter. Providence Capital Advisors LLC now owns 50,148 shares of the real estate investment trust’s stock valued at $1,585,000 after acquiring an additional 1,395 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

DRE opened at $32.39 on Friday. The business has a 50 day simple moving average of $33.12 and a two-hundred day simple moving average of $31.55. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 5.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.90 and a quick ratio of 1.90. Duke Realty Corp has a one year low of $24.67 and a one year high of $33.83.

Duke Realty (NYSE:DRE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $213.11 million for the quarter, compared to the consensus estimate of $212.46 million. Duke Realty had a net margin of 23.14% and a return on equity of 4.82%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts expect that Duke Realty Corp will post 1.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Wednesday, August 14th. Duke Realty’s payout ratio is 64.66%.

DRE has been the subject of a number of recent research reports. Zacks Investment Research lowered Duke Realty from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Wednesday, June 19th. Bank of America lowered Duke Realty from a “buy” rating to a “neutral” rating and set a $30.81 target price for the company. in a research note on Thursday, May 16th. Stifel Nicolaus boosted their target price on Duke Realty from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Scotiabank raised Duke Realty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.35.

In other Duke Realty news, EVP Nicholas C. Anthony sold 7,806 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.61, for a total transaction of $254,553.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter D. Harrington sold 10,297 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $33.30, for a total value of $342,890.10. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

About Duke Realty

Duke Realty Corporation owns and operates approximately 153 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 listed on the S&P 500 Index.

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

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