Hedge Funds Are Betting On Duke Realty Corp (DRE)

Duke Realty Corp (NYSE:DRE) was in 9 hedge funds’ portfolio at the end of the first quarter of 2013. DRE has experienced an increase in support from the world’s most elite money managers of late. There were 8 hedge funds in our database with DRE holdings at the end of the previous quarter.

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Now, it’s important to take a look at the key action encompassing Duke Realty Corp (NYSE:DRE).

How are hedge funds trading Duke Realty Corp (NYSE:DRE)?

At Q1’s end, a total of 9 of the hedge funds we track were bullish in this stock, a change of 13% from the first quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Duke Realty Corp (NYSE:DRE). Renaissance Technologies has a $11.7 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Dreman Value Management, managed by David Dreman, which held a $3.6 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other peers that are bullish include Richard Driehaus’s Driehaus Capital, Anil Stevens and Glenn Shapiro’s Parameter Capital Management and Steven Cohen’s SAC Capital Advisors.

With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Driehaus Capital, managed by Richard Driehaus, assembled the most valuable position in Duke Realty Corp (NYSE:DRE). Driehaus Capital had 2.3 million invested in the company at the end of the quarter. Anil Stevens and Glenn Shapiro’s Parameter Capital Management also initiated a $2.1 million position during the quarter. The following funds were also among the new DRE investors: Steven Cohen’s SAC Capital Advisors and Matthew Hulsizer’s PEAK6 Capital Management.

Insider trading activity in Duke Realty Corp (NYSE:DRE)

Bullish insider trading is best served when the company in focus has seen transactions within the past six months. Over the last six-month time frame, Duke Realty Corp (NYSE:DRE) has seen zero unique insiders buying, and 3 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Duke Realty Corp (NYSE:DRE). These stocks are Sovran Self Storage Inc (NYSE:SSS), DCT Industrial Trust Inc. (NYSE:DCT), CubeSmart (NYSE:CUBE), Biomed Realty Trust Inc (NYSE:BMR), and Extra Space Storage, Inc. (NYSE:EXR). This group of stocks belong to the reit – industrial industry and their market caps resemble DRE’s market cap.