Duke Realty: 2Q Earnings Snapshot
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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.
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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.
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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.
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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