Duke Realty FFO Rises in Q2

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Duke Realty is headquartered in Indianapolis. Duke Realty is headquartered in Indianapolis.
INDIANAPOLIS -

Indianapolis-based Duke Realty Corp. (NYSE: DRE) is reporting second quarter Core Funds From Operations of $120.7 million, up from $116.6 million during the same period last year. Chief Executive Officer Jim Connor says the Real Estate Investment Trust's leasing activity is continuing at a stronger pace than this time a year ago.

Connor says the REIT's leasing activity is impressive, considering Duke's properties are already at high occupancy levels. "In particular, we have continued to lease up our speculative developments much faster than originally anticipated.  During the quarter, we executed 7.8 million square feet of total leases, which included a 20-year lease of a 1.0 million square foot speculative property in Pennsylvania to a major logistics company just before it was placed in service.  "

Despite the increase in Core FFO, Duke is also reporting net income of $193.8 million, down sharply from $1.2 billion during the same quarter in 2017. You can connect to the full earnings report by clicking here

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