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Duke Realty Corporation (NYSE: DRE) has announced its third-quarter 2020 operating results release date, set for October 28, 2020, post-market close. The company will conduct a conference call on October 29 at 3:00 p.m. Eastern Time, accessible via their investor relations website. Duke Realty operates approximately 156 million rentable square feet of industrial assets across 20 key U.S. logistics markets and is listed on the S&P 500 Index. More details can be found on their official website.
Duke Realty Corporation (NYSE: DRE) announced strong rent collection metrics for July and August 2020. The company reported a collection of 97.3% of original July rents and 99.2% for August, with overall collections and deferrals reaching 99.9% and 99.6% respectively. Notably, it achieved 100% collection of deferred rents due in July and over 99% for August. These figures highlight an increasing pace of rent collections since the pandemic began. The company also plans virtual investor meetings starting August 25, with materials available on its website.
Duke Realty Corporation (NYSE: DRE) reported strong Q2 2020 results amid the ongoing pandemic, with 96% of expiring leases renewed or backfilled and a 26.6% growth in net effective rents. The company's total portfolio occupancy rose by 100 basis points, supported by robust rent collections, with 99.9% of Q2 and July rents collected or deferred. FFO per diluted share for Q2 was $0.33, slightly down from $0.35 in 2019, primarily due to a $15 million loss on debt extinguishment. The company updated its 2020 guidance, anticipating higher earnings and reduced bad debt expenses.
Duke Realty Corporation (NYSE: DRE) is set to release its Q2 2020 operating results on July 29th, after market close. A conference call will follow on July 30th at 3:00 p.m. ET, accessible via a live audio webcast on their investor relations website. Duke Realty owns and operates about 156 million rentable square feet of industrial assets across 20 major U.S. logistics markets and is listed on the S&P 500 Index. Further details and supplemental materials will be available on their site prior to the call.
Duke Realty Corporation (NYSE: DRE) has successfully closed its cash tender offer to purchase all outstanding 3.875% Senior Notes due 2022. The offer expired on June 26, 2020, with $216.26 million of notes validly tendered. All accepted notes will be paid at $1,065.00 per $1,000 principal amount plus accrued interest. The purchase was funded through a recent $350 million issuance of 1.750% Senior Notes due 2030. Duke Realty operates approximately 156 million square feet of industrial assets across the U.S.
Duke Realty Corporation (NYSE: DRE) has announced a public offering of $350 million in 1.750% senior unsecured notes, maturing on July 1, 2030, priced at 99.072%. The offering is set to close on June 29, 2020. Proceeds will primarily be used to repurchase existing 3.875% Senior Notes due 2022 and for general corporate purposes, including repaying debt on unsecured credit lines. The offering's underwriters include Citigroup, J.P. Morgan, and Morgan Stanley. Investors are advised to review the SEC registration statement for detailed information.
Duke Realty Corporation (NYSE: DRE) has initiated a cash tender offer for its outstanding $300 million of 3.875% Senior Notes due 2022. The offer, which allows holders to receive $1,065 per $1,000 principal amount, expires on June 26, 2020. Payments are expected on June 29, 2020. The offer is contingent upon raising at least $300 million from new senior notes. D.F. King & Co., Inc. acts as the tender agent, while Citigroup and J.P. Morgan serve as dealer managers. Investors are advised to review the Offer Documents carefully.
Duke Realty (NYSE: DRE) has achieved LEED certification for six logistics buildings across the U.S., showcasing its dedication to environmentally responsible development. The certified properties include warehouses in New Jersey, California, Baltimore, and Chicago, with a focus on energy efficiency and sustainable practices. The company plans to increase its LEED-certified projects moving forward, emphasizing its commitment to sustainable development and corporate responsibility. Duke Realty now operates approximately 156 million rentable square feet of industrial assets in major U.S. markets.
Duke Realty Corporation (NYSE: DRE) reported robust rent collection metrics for April and May 2020. The company collected 98.3% of April rents and 95.4% of May rents, with combined collections and deferrals at 99.8% and 99.1%, respectively. Notably, 100% of rents were collected in California and New Jersey, despite eviction moratoriums. In addition, leasing activity totaled 4.5 million square feet, with pre-leasing in the speculative development pipeline rising to 68%. Duke Realty will present at the NAREIT REITweek virtual conference from June 2-4.