Duke Realty Corporation Schedules First Quarter 2020 Earnings Release and Conference Call and Provides COVID-19 Update
April 06 2020 - 4:15PM
Duke Realty Corporation (NYSE: DRE), a leading logistics property
real estate investment trust (REIT), announced today that the
company will release its first quarter 2020 operating results on
Wednesday, April 29th, after the market close. The company
will host its quarterly earnings conference call on Thursday, April
30th, at 3:00 p.m. Eastern Time.
The public may access the conference call through a live audio
webcast available on the investor relations section of Duke
Realty’s website at www.dukerealty.com. Supplemental materials will
be posted to the investor relations section of the company's
website prior to the conference call. Shortly after the conclusion
of the conference call, investors can access a replay of the
webcast on the company’s website.
The company also reaffirmed that it is continuing to monitor
both the COVID-19 outbreak progression and recommended preventive
measures. Jim Connor, the company’s Chairman and Chief
Executive Officer, stated, “We continue to monitor both the
COVID-19 outbreak and comply with recommended preventive
measures. We have taken a proactive approach in our
operations to limit virus exposure, including directing our
associates to telecommute. We also have been talking with our
tenants to determine their operational plans and ensure they are
aware of the recommendations of the Center for Disease Control
(CDC).”
Connor added, “We understand these are challenging times in the
economy, but let me take this opportunity to remind our
stakeholders that over the last decade we’ve transformed Duke
Realty to be in a position to withstand challenging business
cycles. We have a high quality, diversified portfolio of over
550 logistics facilities and over 800 diversified customers.
Our balance sheet is strong with limited near term debt maturities
and currently Baa1/BBB+ credit ratings. We look forward to
sharing an update on our business at our quarterly press release
and public earnings conference call as noted above, on April 29th
and April 30th, respectively.”
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 155
million rentable square feet of industrial assets in 20 key U.S.
logistics markets. Duke Realty Corporation is publicly traded on
the NYSE under the symbol DRE and is a constituent of the S&P
500 Index. More information about Duke Realty Corporation is
available at www.dukerealty.com.
Cautionary Notice Regarding
Forward-Looking Statements
This news release may contain forward-looking statements within
the meaning of the federal securities laws. All statements,
other than statements of historical facts, including, among others,
statements regarding the company’s future financial position or
results, future dividends, and future performance, are
forward-looking statements. Those statements include statements
regarding the intent, belief, or current expectations of the
company, members of its management team, as well as the assumptions
on which such statements are based, and generally are identified by
the use of words such as "may," "will," "seeks," "anticipates,"
"believes," "estimates," "expects," "plans," "intends," "should,"
or similar expressions, although not all forward-looking statements
may contain such words. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that actual results may differ materially from those
contemplated by such forward-looking statements. Many of these
factors are beyond the company’s abilities to control or predict.
Such factors include, but are not limited to, (i) general adverse
economic and local real estate conditions; (ii) the inability of
major tenants to continue paying their rent obligations due to
bankruptcy, insolvency, or a general downturn in their business;
(iii) financing risks, such as the inability to obtain equity,
debt, or other sources of financing or refinancing on favorable
terms, if at all; (iv) the company’s ability to raise capital by
selling its assets; (v) changes in governmental laws and
regulations; (vi) the level and volatility of interest rates and
foreign currency exchange rates; (vii) valuation of joint venture
investments; (viii) valuation of marketable securities and other
investments; (ix) valuation of real estate; (x) increases in
operating costs; (xi) changes in the dividend policy for the
company’s common stock; (xii) the reduction in the company’s income
in the event of multiple lease terminations by tenants; (xiii)
impairment charges, (xiv) the effects of geopolitical instability
and risks such as terrorist attacks and trade wars; (xv) the
effects of natural disasters, including the current pandemic caused
by COVID-19, as well as floods, droughts, wind, tornados, and
hurricanes; and (xvi) the effect of any damage to our reputation
resulting from developments relating to any of items (i) – (xv).
Additional information concerning factors that could cause actual
results to differ materially from those forward-looking statements
is contained from time to time in the company's filings with the
Securities and Exchange Commission. The company refers you to
the section entitled “Risk Factors” contained in the company's
Annual Report on Form 10-K for the year ended December 31, 2019.
Copies of each filing may be obtained from the company or the
Securities and Exchange Commission.
The risks included here are not exhaustive and undue reliance
should not be placed on any forward-looking statements, which are
based on current expectations. All written and oral forward-looking
statements attributable to the company, its management, or persons
acting on their behalf are qualified in their entirety by these
cautionary statements. Further, forward-looking statements speak
only as of the date they are made, and the company undertakes no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated
events, or changes to future operating results over time unless
otherwise required by law.
Contact Information:
Investors:Ron Hubbard317.808.6060
Media:Helen McCarthy317.708.8010
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