INDIANAPOLIS – INDIANAPOLIS (AP) _ Duke Realty Corp. (DRE) on Wednesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Indianapolis-based real estate investment trust said it had funds from operations of $120.7 million, or 33 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 33 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $193.8 million, or 54 cents per share.
The real estate development company posted revenue of $210.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $196.6 million.
The company's shares have increased 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.05, a rise of 1 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DRE at https://www.zacks.com/ap/DRE