Duke Realty (DRE) Tops Q4 EPS by 9c; Offers Guidance

Duke Realty (NYSE: DRE) reported Q4 EPS of $0.27, $0.09 better than the analyst estimate of $0.18.

The company also offered the following 2022 guidance: A reconciliation of the company's guidance for diluted net income per common share to FFO, as defined by Nareit, and to Core FFO is included in the financial tables to this release. The company issued guidance for net income of $1.79 to $2.07 per diluted share. The company issued guidance for FFO, as defined by Nareit, of $1.77 to $1.87 per diluted share.

We are introducing 2022 guidance for Core FFO of $1.87 to $1.93 per diluted share, with the midpoint of $1.90 representing a 9.8 percent increase over 2021 results," said Mr. Denien. "Our guidance for growth in AFFO ('Adjusted Funds from Operations'), on a share adjusted basis, is between 8.4 percent and 12.3 percent.

Our 2022 guidance reflects our expectation that core rental operations in 2022 will be similar to 2021, and that we will maintain our current high occupancy levels and continue to produce rent growth metrics similar to recent history based on our significant embedded mark-to-market on our portfolio. As we have recently stated, we believe we can achieve approximate ten percent annual growth in Core FFO and AFFO, and our guidance for 2022 reflects this.

We will continue to maintain a strong balance sheet, in alignment with our long-term strategic objectives."

For earnings history and earnings-related data on Duke Realty (DRE) click here.

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• KinderCare Learning Companies, Inc. (KLC) Misses Q2 EPS by 2c; Offers Guidance
• Birchtech Corp. (BCHT) Misses Q2 EPS by 7c