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Duke Realty Q2 core FFO per share rises 9.1% YOY

Duke Realty Corp. reported second-quarter core funds from operations attributable to common shareholders of $132.5 million, or 36.0 cents per share, a 9.1% increase on a per-share basis from $120.7 million, or 33.0 cents per share, in the 2018 second quarter.

For the second quarter, Nareit FFO rose 6.1% year over year on a per-share basis to $129.0 million, or 35.0 cents per share, from $120.5 million, or 33.0 cents per share.

Nareit is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the quarter was 36 cents.

Rental and related revenue for the second quarter came in at $213.1 million, a 10.9% increase year over year from $192.1 million.

The industrial real estate investment trust forecasts Nareit-defined FFO per share in the range of $1.38 to $1.46 for the full year 2019, compared to previous guidance in the range of $1.36 to $1.46. The company also revised its core FFO guidance to a range of $1.41 to $1.45 per share from a previous guidance range of $1.39 to $1.45 per share.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the full year is $1.42.