Duke Realty beats by $0.03, beats on revs; guides FY18 FFO in-line
- Reports Q4 (Dec) funds from operations of $0.33 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of $0.30; revenues rose 18.8% year/year to $215.6 mln vs the $175.58 mln Capital IQ Consensus.
- Co issues in-line guidance for FY18, sees FFO of $1.24-1.32, excluding non-recurring items, vs. $1.26 Capital IQ Consensus Estimate.
- Guidance Details: "Our guidance for 2018 same property NOI growth reflects a change in methodology, as we disclosed a couple of weeks ago, whereby our same property population will be defined at the beginning of each calendar year and will include only buildings that were stabilized as of the beginning of the prior calendar year. Our guidance for same property NOI growth ranges from 3.25 percent to 4.75 percent and the projected growth is anticipated to be from continued strong rental rate increases as our stabilized occupancy levels are expected to decrease slightly from our current record levels."
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