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Duke Realty Corporation Schedules First Quarter 2020 Earnings Release and Conference Call and Provides COVID-19 Update

INDIANAPOLIS, April 06, 2020 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE: DRE), a leading logistics property real estate investment trust (REIT), announced today that the company will release its first quarter 2020 operating results on Wednesday, April 29th, after the market close.  The company will host its quarterly earnings conference call on Thursday, April 30th, at 3:00 p.m. Eastern Time.

The public may access the conference call through a live audio webcast available on the investor relations section of Duke Realty’s website at www.dukerealty.com. Supplemental materials will be posted to the investor relations section of the company's website prior to the conference call. Shortly after the conclusion of the conference call, investors can access a replay of the webcast on the company’s website.

The company also reaffirmed that it is continuing to monitor both the COVID-19 outbreak progression and recommended preventive measures.  Jim Connor, the company’s Chairman and Chief Executive Officer, stated, “We continue to monitor both the COVID-19 outbreak and comply with recommended preventive measures.  We have taken a proactive approach in our operations to limit virus exposure, including directing our associates to telecommute.  We also have been talking with our tenants to determine their operational plans and ensure they are aware of the recommendations of the Center for Disease Control (CDC).”

Connor added, “We understand these are challenging times in the economy, but let me take this opportunity to remind our stakeholders that over the last decade we’ve transformed Duke Realty to be in a position to withstand challenging business cycles.  We have a high quality, diversified portfolio of over 550 logistics facilities and over 800 diversified customers.  Our balance sheet is strong with limited near term debt maturities and currently Baa1/BBB+ credit ratings.  We look forward to sharing an update on our business at our quarterly press release and public earnings conference call as noted above, on April 29th and April 30th, respectively.”

About Duke Realty Corporation

Duke Realty Corporation owns and operates approximately 155 million rentable square feet of industrial assets in 20 key U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a constituent of the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.

Cautionary Notice Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the federal securities laws.  All statements, other than statements of historical facts, including, among others, statements regarding the company’s future financial position or results, future dividends, and future performance, are forward-looking statements. Those statements include statements regarding the intent, belief, or current expectations of the company, members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," or similar expressions, although not all forward-looking statements may contain such words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that actual results may differ materially from those contemplated by such forward-looking statements. Many of these factors are beyond the company’s abilities to control or predict. Such factors include, but are not limited to, (i) general adverse economic and local real estate conditions; (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency, or a general downturn in their business; (iii) financing risks, such as the inability to obtain equity, debt, or other sources of financing or refinancing on favorable terms, if at all; (iv) the company’s ability to raise capital by selling its assets; (v) changes in governmental laws and regulations; (vi) the level and volatility of interest rates and foreign currency exchange rates; (vii) valuation of joint venture investments; (viii) valuation of marketable securities and other investments; (ix) valuation of real estate; (x) increases in operating costs; (xi) changes in the dividend policy for the company’s common stock; (xii) the reduction in the company’s income in the event of multiple lease terminations by tenants; (xiii) impairment charges, (xiv) the effects of geopolitical instability and risks such as terrorist attacks and trade wars; (xv) the effects of natural disasters, including the current pandemic caused by COVID-19, as well as floods, droughts, wind, tornados, and hurricanes; and (xvi) the effect of any damage to our reputation resulting from developments relating to any of items (i) – (xv). Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's filings with the Securities and Exchange Commission.  The company refers you to the section entitled “Risk Factors” contained in the company's Annual Report on Form 10-K for the year ended December 31, 2019. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The risks included here are not exhaustive and undue reliance should not be placed on any forward-looking statements, which are based on current expectations. All written and oral forward-looking statements attributable to the company, its management, or persons acting on their behalf are qualified in their entirety by these cautionary statements. Further, forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time unless otherwise required by law.

Contact Information:

Investors:
Ron Hubbard
317.808.6060

Media:
Helen McCarthy
317.708.8010

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Source: Duke Realty Corporation