Duke Realty Corp. in an April 6 press release reassured investors that it is well-positioned to withstand the economic turmoil caused by COVID-19.
“We understand these are challenging times in the economy, but let me take this opportunity to remind our stakeholders that over the last decade we’ve transformed Duke Realty to be in a position to withstand challenging business cycles,” CEO Jim Connor said in a press release.
“We have a high-quality, diversified portfolio of over 550 logistics facilities and over 800 diversified customers,” Connor said. Further, he said, Duke’s balance sheet is strong.
The company, once known for office, health care, retail and industrial projects, has refashioned itself in recent years into a pure-play industrial real estate firm—a move that has worked out well amid the boom in construction of e-commerce warehouses.
Duke’s stock has fared relatively well this year, dropping just 6.4%. That compares with a 16.4% drop in the S&P 500 during that span.•