WASHINGTON (dpa-AFX) - Duke Realty Corporation (DRE) reported that its third-quarter net loss attributable to shareholders was $32.1 million or $0.13 per share, compared to a net income of $34.1 million or $0.13 per share in the previous year quarter.
Funds from operations or FFO was $72.27 million or $0.27 per share, down from $128.95 million or $0.50 per share in the same quarter last year.
Core Funds from operations or FFO for the quarter dropped to $76.1 million or $0.29 per share from $77.9 million or $0.30 per share in the comparable quarter last year. On average, fourteen analysts polled by Thomson Reuters expected the company to report profit of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues were $361.26 million, compared with $360.65 million in the last year period, while nine analysts expected revenue of $231.02 million for the quarter.
Duke Realty narrowed its Core FFO guidance for 2011 to $1.13 to $1.15 per share. Analysts currently expect the company to report 2011 profit per share of $1.14.
The company also announced that its board declared a quarterly cash dividend on common stock of $0.17 per share. The second quarter dividend will be payable November 30 to shareholders of record on November 16, 2011.
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