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DUKE REALTY CORP

dukerealty.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2022 10-Q, filed Aug 8, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Owns and leases industrial properties to logistics, e-commerce and manufacturing businesses. Provides development, construction management and property management services to tenants, joint ventures and third-party owners.

How Did They Make Money?

Earns rental income from industrial-property leases over their terms, and fees for construction and development work as that work progresses.

FY2021 revenue

Who Were Their Customers?

More than 800 tenants lease its properties, with businesses in logistics, e-commerce, manufacturing, wholesale trade and retailing.

Did Revenues Turn Into Profits?

Yes. It kept 78 cents of every revenue dollar as net income in FY2021.

Operating income, FY2021
88% of revenue
▲ +133% vs FY2020 ($417.8M, 42%)
Net income, FY2021
78% of revenue
▲ +185% vs FY2020 ($302.8M, 30%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: FY2022, the three months to Jun 30, 2022
Revenue
▲ +5%
vs $271.7M in
Net income
▼ −42%
vs $177.7M in
  • Oct 3, 2022 Duke Realty completed its merger with Prologis Shareholders received 0.475 Prologis share for each Duke Realty share, and Duke Realty requested removal of its NYSE listing.

Grew. Revenue grew 42% in 4 years, from $780.9M in FY2017 to $1.1B in FY2021, about 9% a year.

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