Duke Realty made the Forbes Global 2000 list of the world’s largest and most powerful public companies in 2019, one of 35 real estate companies in the world to make the list. The annual ranking is based on four metrics from 2019 that are equally rated: revenue, profit, assets, and market value.
At year-end 2019, Duke Realty reported a 2.7% increase in revenue to $973 million, up from $947 million in 2018. The company’s assets also increased to $8.4 billion at the end of 2019, a 7.9% increase from $7.8 billion at the close of 2018, while the market value of the company stock increased 37% from $9.4 billion to $12.9 billion.
“Our 2019 results are a direct result of our focus on owning the best-located, highest-quality logistics assets, while maintaining a strong balance sheet and allocating capital to drive cash flow growth and value creation,” stated Jim Connor, Duke Realty Chairman and CEO. “Our local teams who serve as the face of Duke Realty and our behind-the-scenes associates who provide critical operational support also continued to be instrumental in our ability to deliver strong operational results.”
E-commerce growth and supply chain reconfigurations served as the main drivers of growth for Duke Realty in 2019. As expedited delivery times and greater efficiency took on new importance in the first half of 2020 in light of COVID-19, Duke Realty continued to deliver positive operating results given its standing as a leading logistics real estate provider in the United States.
“Even with the global pandemic continuing to negatively impact many sectors of the economy, our modern and well-located portfolio and high credit quality tenant base have proven to be extremely resilient and perform well,” remarked Connor in the company’s second quarter earnings release.
Looking ahead, Connor continues to see a bright future for the company.
“It’s clear that the logistics real estate business is an exceptionally strong position,” he remarked. “We’re optimistic and excited to leverage our operations and development platforms to continue increasing our cash flow and dividend growth over the long term.”