Duke Realty Q4 Profit Matches Estimates - Quick Facts

(RTTNews) - Duke Realty Corporation (DRE) reported a fourth-quarter net loss to shareholders of $3.01 million or $0.01 per share, compared to profit of $69.57 million or $0.21 per share, prior year. AFFO per share was $0.21, flat with prior year. Core FFO per share was $0.30, for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.30 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $277.44 million from $272.17 million last year. Analysts expected revenue of $233.07 million for the quarter.

The company expects 2015 Core FFO of $1.12 to $1.20 per share, and AFFO of $0.96 to $1.04 per share. Analysts expect the company to report fiscal year earnings per share of $1.24. The company's board declared a quarterly cash dividend of $0.17 per share, or $0.68 per share on an annualized basis, on the company's common stock. The fourth quarter dividend will be payable February 27, 2015 to shareholders of record on February 17, 2015.

The company also announced it has entered into a definitive agreement to sell a portfolio of suburban office properties, totaling 6.9 million square feet, and 57 acres of undeveloped land. An affiliate of Starwood Capital Group, in a joint venture with affiliates of Vanderbilt Partners and Trinity Capital Advisors, agreed to purchase the portfolio for $1.12 billion. The 62 building portfolio includes all of the company's wholly-owned suburban office properties located in Nashville, Raleigh, South Florida and St. Louis.