IBJNews

  • Home

Duke Realty’s quarterly results in line with expectations

IBJ Staff
April 26, 2012
Keywords
Commercial Real Estate, Duke Realty Corp., Financial Results, Real Estate & Retail, Real Estate Investment Trust
Back to TopCommentsE-mailPrint

Indianapolis-based Duke Realty Corp.’s financial performance in the first quarter met analyst expectations even though the company suffered a $36 million loss and saw revenue decline by $65 million.

The real estate investment trust said Wednesday that core funds from operations for the quarter were $63.7 million, or 24 cents per share, compared with $72.6 million, or 28 cents per share, in the same quarter of 2011.

Twelve analysts polled by Thomson Reuters expected core FFO of 24 cents per share for the quarter. FFO is a common performance measure used by real estate investment trusts.

Duke reported a loss attributable to shareholders of nearly $36.4 million, or 14 cents per share, compared with a profit of $47.6 million, or 19 cents per share, in the year-ago period. The company attributed much of the loss to a $73.3 million reduction in gains on the sale of depreciable properties.

Revenue for the quarter declined to $272.4 million, down from $337.5 million in the first quarter of 2011.

Duke completed $157 million in acquisitions during the quarter and signed 1.5 million square feet of new development starts, including two industrial projects totaling 1.4 million square feet.

The company said the overall occupancy rate in its real estate portfolio rose to 92.1 percent from 90.7 percent the previous quarter.




 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

ADVANCED SEARCH
Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ

  1. RKW's comments read like a modern "Chicken Little". As a Raintree resident for many years, "Yes, I'm ready for this." Matter of fact, I welcome The Farm because it's a development that compliments our town, brings new and desirable shopping & dining closer (specialty grocer, upscale shops, micro brew pub, etc), offers upscale condos for empty nesters who want to stay in Zionsville, is being planned and constructed by local, well-reputed firms and, of course, provides desirable non property tax benefits. We all knew the Pittman's were going to develop their property sooner than later. That one of the Pittman's will continue to live on the property helps assure The Farm will be everything promised. This also sets a standard for other developers as to the quality of future developments - which should keep an ugly Walmart at bay for decades. As we've no meglomaniac mayor, I seriously doubt Zionsville would ever aspire to over-priced statues or subsidized retail rents. And we already have a very nice public theater, the Zionsville Performing Arts Center, that meets our cultural needs quite nicely.

  2. Do we add (or subtract) these from the bounty we recieve from RTWFL, Daylight Savings Time, corporate tax giveaways, and the crack job IEDC is doing?? Or is Mike going to blame these on Mitch?

  3. Who makes Tater Tots? They would be a good sponsor, because $3 Million for the alleged "Greatest Spectacle In Racing" is taters. Tiny, tiny taters. But at least they are making up something of the losses accumulated over the years in this dying sport. Buttock in seat is certainly not doing it, nor eyeball on TV, as evidenced by the lack of both.

  4. We loved lakehouse and think the Arbor Village would be a great location. It is less than 2 miles from over 1000 rooftops in the 225,000 to over 1 million range. Many people could use the great fishers trail system to bike or walk there. Just an idea Scotty -- but maybe something closer to 3 Wiseman would good. The only microbrew in area is Ram (boring)

  5. True, it's an ESPN production, but ESPN is just another name for ABC Sports, or what used to be ABC Sports since ABC Sports no longer exists as a name. ESPN=ABC Sports= ESPN. ESPN is, according to Forbes "the world's most valuable media property" worth $40 billion. Despite that, they fired 400 people this week.

ADVERTISEMENT