Intrinsic value of Duke Realty - DRE

Previous Close

$28.00

  Intrinsic Value

$2.25

stock screener

  Rating & Target

str. sell

-92%

Previous close

$28.00

 
Intrinsic value

$2.25

 
Up/down potential

-92%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as DRE.

We calculate the intrinsic value of DRE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  835
  891
  949
  1,010
  1,073
  1,139
  1,207
  1,278
  1,353
  1,430
  1,511
  1,596
  1,684
  1,776
  1,873
  1,974
  2,080
  2,190
  2,306
  2,427
  2,554
  2,687
  2,827
  2,973
  3,126
  3,286
  3,455
  3,631
  3,816
  4,011
Variable operating expenses, $m
  458
  488
  520
  553
  587
  623
  660
  698
  739
  781
  819
  865
  913
  963
  1,015
  1,070
  1,127
  1,187
  1,250
  1,315
  1,384
  1,456
  1,532
  1,611
  1,694
  1,781
  1,872
  1,968
  2,068
  2,174
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  458
  488
  520
  553
  587
  623
  660
  698
  739
  781
  819
  865
  913
  963
  1,015
  1,070
  1,127
  1,187
  1,250
  1,315
  1,384
  1,456
  1,532
  1,611
  1,694
  1,781
  1,872
  1,968
  2,068
  2,174
Operating income, $m
  377
  403
  429
  457
  486
  516
  547
  580
  614
  650
  692
  731
  771
  814
  858
  904
  953
  1,003
  1,056
  1,112
  1,170
  1,231
  1,295
  1,362
  1,432
  1,505
  1,582
  1,663
  1,748
  1,837
EBITDA, $m
  1,145
  1,221
  1,301
  1,384
  1,471
  1,561
  1,655
  1,752
  1,854
  1,961
  2,072
  2,188
  2,309
  2,435
  2,568
  2,706
  2,851
  3,003
  3,161
  3,328
  3,502
  3,684
  3,875
  4,075
  4,285
  4,505
  4,736
  4,978
  5,232
  5,498
Interest expense (income), $m
  163
  47
  47
  47
  47
  48
  48
  48
  49
  49
  49
  49
  50
  50
  50
  51
  51
  52
  52
  53
  53
  53
  54
  55
  55
  56
  56
  57
  58
  58
  59
Earnings before tax, $m
  330
  356
  382
  410
  438
  468
  499
  531
  565
  600
  643
  681
  721
  763
  807
  853
  901
  951
  1,004
  1,059
  1,116
  1,177
  1,240
  1,306
  1,376
  1,449
  1,525
  1,606
  1,690
  1,778
Tax expense, $m
  89
  96
  103
  111
  118
  126
  135
  144
  153
  162
  174
  184
  195
  206
  218
  230
  243
  257
  271
  286
  301
  318
  335
  353
  372
  391
  412
  434
  456
  480
Net income, $m
  241
  260
  279
  299
  320
  342
  364
  388
  413
  438
  469
  497
  527
  557
  589
  623
  658
  694
  733
  773
  815
  859
  905
  954
  1,004
  1,058
  1,114
  1,172
  1,233
  1,298

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -681
  -727
  -774
  -824
  -875
  -929
  -984
  -1,043
  -1,103
  -1,167
  -1,233
  -1,302
  -1,374
  -1,449
  -1,528
  -1,610
  -1,696
  -1,786
  -1,881
  -1,980
  -2,083
  -2,192
  -2,306
  -2,425
  -2,550
  -2,681
  -2,818
  -2,962
  -3,113
  -3,271
Adjusted assets (=assets-cash), $m
  -681
  -727
  -774
  -824
  -875
  -929
  -984
  -1,043
  -1,103
  -1,167
  -1,233
  -1,302
  -1,374
  -1,449
  -1,528
  -1,610
  -1,696
  -1,786
  -1,881
  -1,980
  -2,083
  -2,192
  -2,306
  -2,425
  -2,550
  -2,681
  -2,818
  -2,962
  -3,113
  -3,271
Revenue / Adjusted assets
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.227
  -1.225
  -1.227
  -1.225
  -1.225
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
  -1.226
Average production assets, $m
  7,622
  8,133
  8,665
  9,218
  9,794
  10,394
  11,018
  11,669
  12,348
  13,056
  13,796
  14,568
  15,374
  16,217
  17,099
  18,021
  18,985
  19,994
  21,051
  22,158
  23,317
  24,531
  25,804
  27,137
  28,535
  30,001
  31,538
  33,150
  34,840
  36,613
Working capital, $m
  -3,008
  -3,210
  -3,420
  -3,638
  -3,865
  -4,102
  -4,349
  -4,606
  -4,874
  -5,153
  -5,445
  -5,750
  -6,068
  -6,401
  -6,748
  -7,112
  -7,493
  -7,891
  -8,308
  -8,745
  -9,203
  -9,682
  -10,184
  -10,710
  -11,262
  -11,841
  -12,447
  -13,083
  -13,751
  -14,450
Total debt, $m
  573
  576
  579
  582
  585
  588
  592
  595
  599
  603
  607
  611
  615
  620
  625
  630
  635
  641
  646
  652
  659
  665
  672
  679
  687
  695
  703
  712
  721
  731
Total liabilities, $m
  42
  44
  47
  50
  53
  57
  60
  64
  67
  71
  75
  79
  84
  88
  93
  98
  103
  109
  115
  121
  127
  134
  141
  148
  156
  164
  172
  181
  190
  200
Total equity, $m
  -723
  -771
  -821
  -874
  -928
  -985
  -1,045
  -1,106
  -1,171
  -1,238
  -1,308
  -1,381
  -1,457
  -1,537
  -1,621
  -1,708
  -1,800
  -1,895
  -1,996
  -2,101
  -2,210
  -2,326
  -2,446
  -2,573
  -2,705
  -2,844
  -2,990
  -3,143
  -3,303
  -3,471
Total liabilities and equity, $m
  -681
  -727
  -774
  -824
  -875
  -928
  -985
  -1,042
  -1,104
  -1,167
  -1,233
  -1,302
  -1,373
  -1,449
  -1,528
  -1,610
  -1,697
  -1,786
  -1,881
  -1,980
  -2,083
  -2,192
  -2,305
  -2,425
  -2,549
  -2,680
  -2,818
  -2,962
  -3,113
  -3,271
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061
  1.061

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  241
  260
  279
  299
  320
  342
  364
  388
  413
  438
  469
  497
  527
  557
  589
  623
  658
  694
  733
  773
  815
  859
  905
  954
  1,004
  1,058
  1,114
  1,172
  1,233
  1,298
Depreciation, amort., depletion, $m
  768
  819
  872
  927
  985
  1,045
  1,107
  1,172
  1,240
  1,311
  1,380
  1,457
  1,537
  1,622
  1,710
  1,802
  1,899
  1,999
  2,105
  2,216
  2,332
  2,453
  2,580
  2,714
  2,854
  3,000
  3,154
  3,315
  3,484
  3,661
Funds from operations, $m
  1,009
  1,078
  1,151
  1,226
  1,305
  1,387
  1,472
  1,560
  1,653
  1,750
  1,849
  1,954
  2,064
  2,179
  2,299
  2,425
  2,556
  2,694
  2,838
  2,989
  3,147
  3,312
  3,486
  3,667
  3,858
  4,058
  4,267
  4,487
  4,717
  4,959
Change in working capital, $m
  -194
  -202
  -210
  -218
  -227
  -237
  -247
  -257
  -268
  -280
  -292
  -305
  -318
  -333
  -348
  -364
  -381
  -398
  -417
  -437
  -457
  -479
  -502
  -526
  -552
  -578
  -607
  -636
  -667
  -700
Cash from operations, $m
  1,203
  1,280
  1,361
  1,445
  1,532
  1,623
  1,718
  1,817
  1,921
  2,029
  2,141
  2,259
  2,382
  2,512
  2,647
  2,789
  2,937
  3,092
  3,255
  3,425
  3,604
  3,791
  3,988
  4,194
  4,410
  4,636
  4,874
  5,123
  5,385
  5,659
Maintenance CAPEX, $m
  -713
  -762
  -813
  -866
  -922
  -979
  -1,039
  -1,102
  -1,167
  -1,235
  -1,306
  -1,380
  -1,457
  -1,537
  -1,622
  -1,710
  -1,802
  -1,899
  -1,999
  -2,105
  -2,216
  -2,332
  -2,453
  -2,580
  -2,714
  -2,854
  -3,000
  -3,154
  -3,315
  -3,484
New CAPEX, $m
  -492
  -511
  -532
  -553
  -576
  -600
  -625
  -651
  -679
  -708
  -739
  -772
  -807
  -843
  -881
  -922
  -964
  -1,009
  -1,057
  -1,107
  -1,159
  -1,214
  -1,272
  -1,334
  -1,398
  -1,466
  -1,537
  -1,612
  -1,690
  -1,773
Cash from investing activities, $m
  -1,205
  -1,273
  -1,345
  -1,419
  -1,498
  -1,579
  -1,664
  -1,753
  -1,846
  -1,943
  -2,045
  -2,152
  -2,264
  -2,380
  -2,503
  -2,632
  -2,766
  -2,908
  -3,056
  -3,212
  -3,375
  -3,546
  -3,725
  -3,914
  -4,112
  -4,320
  -4,537
  -4,766
  -5,005
  -5,257
Free cash flow, $m
  -2
  7
  16
  25
  34
  44
  54
  64
  75
  86
  96
  107
  119
  131
  144
  157
  170
  184
  199
  214
  229
  245
  262
  280
  298
  317
  337
  358
  379
  402
Issuance/(repayment) of debt, $m
  2
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  10
Issuance/(repurchase) of shares, $m
  -46
  -48
  -50
  -52
  -55
  -57
  -59
  -62
  -64
  -67
  -70
  -73
  -76
  -80
  -84
  -87
  -91
  -96
  -100
  -105
  -110
  -115
  -121
  -126
  -133
  -139
  -146
  -153
  -160
  -168
Cash from financing (excl. dividends), $m  
  -44
  -45
  -47
  -49
  -52
  -54
  -56
  -58
  -60
  -63
  -66
  -69
  -72
  -75
  -79
  -82
  -86
  -90
  -94
  -99
  -104
  -108
  -114
  -119
  -125
  -131
  -138
  -144
  -151
  -158
Total cash flow (excl. dividends), $m
  -46
  -39
  -32
  -25
  -17
  -9
  -2
  6
  14
  23
  30
  38
  47
  56
  65
  74
  84
  94
  104
  115
  126
  137
  149
  161
  173
  186
  200
  214
  228
  243
Retained Cash Flow (-), $m
  46
  48
  50
  52
  55
  57
  59
  62
  64
  67
  70
  73
  76
  80
  84
  87
  91
  96
  100
  105
  110
  115
  121
  126
  133
  139
  146
  153
  160
  168
Prev. year cash balance distribution, $m
  676
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  676
  48
  50
  52
  55
  57
  59
  68
  79
  90
  100
  111
  123
  136
  149
  162
  176
  190
  204
  220
  236
  252
  269
  287
  306
  325
  345
  366
  388
  411
Discount rate, %
  15.80
  16.59
  17.42
  18.29
  19.20
  20.17
  21.17
  22.23
  23.34
  24.51
  25.74
  27.02
  28.37
  29.79
  31.28
  32.85
  34.49
  36.21
  38.02
  39.93
  41.92
  44.02
  46.22
  48.53
  50.96
  53.50
  56.18
  58.99
  61.94
  65.03
PV of cash for distribution, $m
  584
  36
  31
  27
  23
  19
  15
  14
  12
  10
  8
  6
  5
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments. The operations of its industrial and medical office properties, as well as its rental operations, are collectively referred to as Rental Operations. The third segment includes real estate services, such as property management, asset management, leasing, development, general contracting and construction management. Its Service Operations segment also includes its taxable REIT subsidiary, through which certain of the segment's operations are conducted. It maintains a Baa1 rating from Moody’s Investor Service, Inc. and a BBB+ rating from Standard & Poor's Financial Services LLC.

FINANCIAL RATIOS  of  Duke Realty (DRE)

Valuation Ratios
P/E Ratio 31.8
Price to Sales 11
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 22.1
Price to Free Cash Flow 28.3
Growth Rates
Sales Growth Rate -5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 147.5%
Cap. Spend. - 3 Yr. Gr. Rate 5.2%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 85.5%
Total Debt to Equity 85.5%
Interest Coverage 3
Management Effectiveness
Return On Assets 7%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 4.8%
Ret/ On T. Cap. - 3 Yr. Avg. 5.7%
Return On Equity 9.4%
Return On Equity - 3 Yr. Avg. 12.7%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 66.1%
Gross Margin - 3 Yr. Avg. 61.8%
EBITDA Margin 81%
EBITDA Margin - 3 Yr. Avg. 73.2%
Operating Margin 49.1%
Oper. Margin - 3 Yr. Avg. 42.2%
Pre-Tax Margin 34.7%
Pre-Tax Margin - 3 Yr. Avg. 24.9%
Net Profit Margin 34.6%
Net Profit Margin - 3 Yr. Avg. 40.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. -0.9%
Payout Ratio 81.7%

DRE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DRE stock intrinsic value calculation we used $781 million for the last fiscal year's total revenue generated by Duke Realty. The default revenue input number comes from 2017 income statement of Duke Realty. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DRE stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 15.8%, whose default value for DRE is calculated based on our internal credit rating of Duke Realty, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Duke Realty.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DRE stock the variable cost ratio is equal to 54.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DRE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.2% for Duke Realty.

Corporate tax rate of 27% is the nominal tax rate for Duke Realty. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DRE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DRE are equal to 912.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Duke Realty operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DRE is equal to -360.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Duke Realty - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 356 million for Duke Realty is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Duke Realty at the current share price and the inputted number of shares is $10.0 billion.

RELATED COMPANIES Price Int.Val. Rating
WRE Washington Rea 30.13 53.31  str.buy
LPT Liberty Proper 43.49 7.79  str.sell
COR CoreSite Realt 112.81 2,751.83  str.buy
STAG STAG Industria 26.96 678.60  str.buy
DCT DCT Industrial 63.61 219.05  str.buy
FR First Industri 31.83 255.29  str.buy
DLR Digital Realty 116.00 343.91  str.buy
EGP EastGroup Prop 92.67 29.20  str.sell

COMPANY NEWS

▶ $77.9M of commercial projects in the works in this west Orange County city   [Jul-18-18 03:41PM  American City Business Journals]
▶ New apartment complex to rise after previous plans scrapped near Mall at Millenia   [Jul-16-18 05:00PM  American City Business Journals]
▶ Exclusive: New industrial site to rise near downtown Orlando   [Jul-13-18 10:59AM  American City Business Journals]
▶ Duke Realty Stock Offers Average Growth at a High Valuation   [Jul-06-18 06:04PM  InvestorPlace]
▶ Cincinnati's largest landlord breaks ground on massive warehouse space   [05:50AM  American City Business Journals]
▶ PPG preleases bulk of big, new Duke distribution facility to be built in Flower Mound   [Jun-05-18 03:15PM  American City Business Journals]
▶ New industrial spec building under construction at Premier 370   [Jun-01-18 08:23AM  American City Business Journals]
▶ Hospitality Notes: Private equity hotel plan; More tenants for Marietta food hall   [May-18-18 11:00AM  American City Business Journals]
▶ Should You Be Holding Drewex SA. (WSE:DRE) Right Now?   [May-07-18 12:15PM  Simply Wall St.]
▶ Duke Realty: 1Q Earnings Snapshot   [Apr-25-18 04:55PM  Associated Press]
▶ Cattle call: Why this massive Hawaiian rancher bought a Franklin building   [Apr-13-18 03:03PM  American City Business Journals]
▶ 'Value' Stocks That Are Actually Expensive   [Apr-09-18 11:29PM  Forbes]
▶ Who Owns Drewex SA. (WSE:DRE)?   [10:27AM  Simply Wall St.]
▶ How hot is industrial real estate? Cincinnatis largest landlord is out of space   [Mar-20-18 02:03PM  American City Business Journals]
▶ Amazon launches hiring push to fill hundreds of positions at new Houston-area facility   [Feb-16-18 01:24PM  American City Business Journals]
▶ Duke Realty reports 4Q results   [Jan-31-18 04:49PM  Associated Press]
▶ The 10 Most Expensive Stocks In The S&P 500   [Jan-24-18 06:30AM  InvestorPlace]
▶ Big distribution hub for Wayfair gets underway in DFW   [Nov-06-17 03:20PM  American City Business Journals]
▶ Duke Realty reports 3Q results   [Oct-25-17 04:51PM  Associated Press]
▶ Duke Realty Closes Refinancing of Revolving Credit Facility   [Oct-11-17 04:15PM  GlobeNewswire]
▶ [$$] Duke Realty Buys a Chunk of Logistics Properties   [Oct-03-17 03:23PM  The Wall Street Journal]
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.