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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Duke Realty Corporation | NYSE:DRE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 48.20 | 0 | 01:00:00 |
From May 2019 to May 2024
DOW JONES NEWSWIRES
Duke Realty Corp. (DRE) said it plans to sell 64 million common shares to repay borrowings under its unsecured line of credit and for general corporate purposes.
The offering would increase outstanding shares by 43%. The planned dilution prompted investors to sell, sending shares down 4.6% to $8.05 in recent after-hours trading.
The Indianapolis-based real estate investment trust has laid off workers, cut its dividend, frozen managers' salaries and closed some operations to preserve liquidity amid the recession.
The underwriters will have a 30-day option to purchase up to an additional 9.6 million shares. Merrill Lynch & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. (MS) are acting as joint book-running managers for the offering.
In January, Duke said its fourth-quarter net income fell 63% while funds from operations, a key measure of REIT profitability, declined 8.4%.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com
1 Year Duke Realty Chart |
1 Month Duke Realty Chart |
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