Orion Portfolio Solutions LLC Acquires Shares of 1,937 Duke Realty Corp (NYSE:DRE)
Orion Portfolio Solutions LLC acquired a new position in shares of Duke Realty Corp (NYSE:DRE) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,937 shares of the real estate investment trust’s stock, valued at approximately $67,000.
A number of other institutional investors have also recently made changes to their positions in DRE. Cohen & Steers Inc. increased its holdings in shares of Duke Realty by 39.3% in the 4th quarter. Cohen & Steers Inc. now owns 25,850,229 shares of the real estate investment trust’s stock valued at $896,227,000 after purchasing an additional 7,293,505 shares in the last quarter. Brookfield Public Securities Group LLC acquired a new stake in shares of Duke Realty in the fourth quarter valued at approximately $78,500,000. Daiwa Securities Group Inc. grew its position in shares of Duke Realty by 24.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,153,027 shares of the real estate investment trust’s stock valued at $317,335,000 after purchasing an additional 1,826,162 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Duke Realty by 24.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,871,409 shares of the real estate investment trust’s stock worth $307,572,000 after purchasing an additional 1,770,868 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Duke Realty by 184.1% during the 3rd quarter. Millennium Management LLC now owns 1,504,817 shares of the real estate investment trust’s stock worth $51,118,000 after purchasing an additional 975,177 shares in the last quarter. Institutional investors own 95.72% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Duke Realty from $31.50 to $33.50 and gave the company an “equal weight” rating in a research note on Tuesday, December 10th. BMO Capital Markets cut Duke Realty from an “outperform” rating to a “market perform” rating and increased their target price for the company from $35.00 to $36.00 in a report on Tuesday, January 7th. Finally, BTIG Research downgraded Duke Realty from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.92.
Duke Realty (NYSE:DRE) last announced its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.10. Duke Realty had a net margin of 44.05% and a return on equity of 8.80%. The business had revenue of $217.40 million for the quarter, compared to the consensus estimate of $216.62 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Duke Realty Corp will post 1.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.235 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.94 annualized dividend and a yield of 3.07%. Duke Realty’s payout ratio is currently 65.28%.
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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