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DRE on NYSE

Duke Realty

American real estate company

Duke Realty was a real estate investment trust (REIT) based in Indianapolis, Indiana, that invested in industrial properties. As of December 31, 2021, it owned or jointly controlled 548 primarily industrial properties containing 162.7 million rentable square feet. In October 2022, it was acquired by Prologis.3 Its shares trade on NYSE under the symbol DRE.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1972Founded1

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  • TickerDRE on NYSE1
  • IndustryReal Estate Investment Trusts1
  • HeadquartersIndianapolis1
  • Websitewww.dukerealty.com
  • Legal formcompany1
  • Incorporated inIN5
  • Business address8711 River Crossing Blvd, Indianapolis, In 462405
  • Filer categoryLarge accelerated filer5
  • LEI254900E47KH1NFFKNF254
  • StatusInactive4
  • LEI statusRetired4
  • Registered addressc/o C T CORPORATION SYSTEM, 46204 Indianapolis, United States4
  • Registered withBusiness Services Division (Secretary of State), 19920307034

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Duke Realty was a real estate investment trust (REIT) based in Indianapolis, Indiana, that invested in industrial properties. As of December 31, 2021, it owned or jointly controlled 548 primarily industrial properties containing 162.7 million rentable square feet. In October 2022, it was acquired by Prologis.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2021

88.2%Operating margin7
77.9%Net margin7
11.3%Revenue growth, 20217
14.3%Return on equity8
0.61×Debt to equity8

Where the money goes

Where each dollar of revenue went, fiscal 2021

  • Other costs13¢$140.9M
  • Interest8¢$84.8M
  • Income tax2¢$18.5M
  • Profit78¢$861.6M

Out of $1.1B in revenue.7

Where each dollar of operating cash went, fiscal 2021

  • Dividends paid61¢$394.5M
  • Kept or used elsewhere39¢$247.9M

Out of $642.4M of cash from operations.7

Financial statements

Revenue91011127$1.1B in 2021+40% since 2015
0$500.0M$1.0B$1.5B2015: $792.2M$792.2M20152016: $730.5M$730.5M2016−8%2017: $780.9M$780.9M2017+7%2018: $947.9M$947.9M2018+21%2019: $973.8M$973.8M2019+3%2020: $993.2M$993.2M2020+2%2021: $1.1B$1.1B2021+11%
Operating income91011127$975.2M in 2021+137% since 2015
0$250.0M$500.0M$750.0M$1.0B2015: $412.1M$412.1M20152016: $433.3M$433.3M2016+5%2017: $388.6M$388.6M2017−10%2018: $460.4M$460.4M2018+18%2019: $524.8M$524.8M2019+14%2020: $417.8M$417.8M2020−20%2021: $975.2M$975.2M2021+133%
Net income91011127$861.6M in 2021+39% since 2015
0$500.0M$1.0B$1.5B$2.0B2015: $621.9M$621.9M20152016: $315.3M$315.3M2016−49%2017: $1.7B$1.7B2017+425%2018: $387.3M$387.3M2018−77%2019: $432.6M$432.6M2019+12%2020: $302.8M$302.8M2020−30%2021: $861.6M$861.6M2021+185%
Fiscal year2015201620172018201920202021
Revenue$792.2M9$730.5M10$780.9M11$947.9M12$973.8M7$993.2M7$1.1B7
Operating expenses$675.6M7
Operating income$412.1M9$433.3M10$388.6M11$460.4M12$524.8M7$417.8M7$975.2M7
Interest$138.3M9$112.8M10$87.0M11$85.0M12$89.8M7$93.4M7$84.8M7
Income before tax$880.2M7
Income tax-$3.9M9-$589.0K10-$357.0K11$8.8M12$8.7M7-$5.1M7$18.5M7
Net income$621.9M9$315.3M10$1.7B11$387.3M12$432.6M7$302.8M7$861.6M7
Earnings per share$1.779$0.8910$4.5811$1.0712$1.187$0.817$2.257
Earnings per share (diluted)$1.779$0.8810$4.5611$1.0712$1.187$0.807$2.257
Shares (weighted, basic)377.7M shares7
Shares (weighted, diluted)383.5M shares7

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Corporate structure

Duke Realty sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Duke Realty

  • Cohen & Steers Filed SC 13G/A on Duke Realty, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • State Street Corporation Filed SC 13G/A on Duke Realty, latest Feb 11, 2022
  • VANGUARD GROUP INC Filed SC 13G/A on Duke Realty, latest Feb 9, 2022
  • BlackRock Filed SC 13G/A on Duke Realty, latest Jan 27, 2022 (2 filings since Jan 25, 2022)
  • Duke Realty Indianapolis, Indiana, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Duke Realty reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$3.4B7 Dec 31, 2021$2.9B7 Dec 31, 2020+19.1%
Construction in progress$744.9M7 Dec 31, 2021$695.2M7 Dec 31, 2020+7.1%
Finance-lease assets$19.2M12 Dec 31, 2020
Operating-lease assets (leased space)$38.9M12 Dec 31, 2020$40.5M12 Dec 31, 2019−4.0%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$9.3B7 Dec 31, 2021$8.2B7 Dec 31, 2020+13.6%
Real estate investments, at cost$11.0B7 Dec 31, 2021$9.9B7 Dec 31, 2020+11.5%
Real estate accumulated depreciation$1.7B7 Dec 31, 2021$1.7B7 Dec 31, 2020+1.5%
Real estate properties87 Dec 31, 2021107 Dec 31, 2020−20.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$69.8M7 Dec 31, 2021$6.3M7 Dec 31, 2020+1005.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Accumulated amortization$87.2M7 Dec 31, 2021$83.4M7 Dec 31, 2020+4.6%
Finite-lived intangibles, net$83.4M7 Dec 31, 2021$89.7M12 Dec 31, 2020−7.1%

The story

P.R. Duke Construction and Duke Development Companies were formed in 1972 by Philip R. Duke, John Rosebrough, and John Wynne with $40,000 of capital. Its first development was in the Park 100 neighborhood in northwest Indianapolis. In 1985, Duke realty Investments was formed. Phil Duke sold his shares in 1986 and Duke Associates was formed as the holding company of P.R. Duke Construction Company and P.R. Duke Realty.

In 1993, the company announced that Duke Realty Investment would become a public company via an IPO on the New York Stock Exchange, which raised $310 million. In 1999, it merged with Weeks Corporation, another REIT with properties primarily in the Southwestern United States.

In 2006, it acquired 32 buildings in the Washington, D.C., area from the Mark Winkler Company.

In May 2017, it sold its medical office properties to Healthcare Trust of America for $2.8 billion to focus on its industrial properties.

In July 2017, Duke Realty was added to the S&P 500.

In October 2022, the company was acquired by Prologis for $23 billion.

From Wikipedia’s article on Duke Realty, shared under CC BY-SA 4.0.6

Leadership

Who has led Duke Realty, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dennis D. Oklak2006–2015

Chair

  1. Dennis D. Oklak2006–2016

President

  1. James D. Bremner2013–2015

Chief financial officer

  1. Matthew A. Cohoat2006–2008
  2. Christie B. Kelly2009–2013
  3. Mark A. Denien2013–2022

Chief operating officer

  1. Steven W. Schnur2020–2022
19801990200020102020
Board members and other officers (36)

Former names

  • DUKE WEEKS REALTY CORPNov 12, 1999 to Apr 18, 20015
  • DUKE REALTY INVESTMENTS INCAug 26, 1994 to May 4, 19995

Timeline

  1. Jan 27, 2006New chief executive Dennis D. Oklak becomes CEO15
  2. 1972Founded Founded1

Filings

161 filings to the SEC since October 2021: 64 insider forms, 6 large holders, 91 other. The latest 20:

  1. Feb 14, 2023SC 13G/A EDGAR
  2. Oct 13, 202215-12G EDGAR
  3. Oct 13, 202215-15D EDGAR
  4. Oct 13, 202215-15D EDGAR
  5. Oct 13, 202215-15D EDGAR
  6. Oct 5, 2022EFFECT EDGAR
  7. Oct 5, 2022EFFECT EDGAR
  8. Oct 5, 2022EFFECT EDGAR
  9. Oct 5, 2022EFFECT EDGAR
  10. Oct 5, 2022EFFECT EDGAR
  11. Oct 5, 2022EFFECT EDGAR
  12. Oct 5, 2022EFFECT EDGAR
  13. Oct 5, 2022EFFECT EDGAR
  14. Oct 5, 2022EFFECT EDGAR
  15. Oct 5, 2022EFFECT EDGAR
  16. Oct 5, 2022EFFECT EDGAR
  17. Oct 5, 2022EFFECT EDGAR
  18. Oct 5, 2022EFFECT EDGAR
  19. Oct 5, 2022EFFECT EDGAR
  20. Oct 5, 2022EFFECT EDGAR

The 161 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 22, 2022Schnur Steven WEVP, Chief Operating OfficerSale4,431$62.19$275.6KForm 4
Aug 15, 2022Schnur Steven WEVP, Chief Operating OfficerSale2,707$65.03$176.0KForm 4
Aug 3, 2022Denien Mark AEVP & CFOSale149,652$62.13$9.3MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Members of Congress who traded it

8 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 10, 2022Robert J. WittmanRepublican, HousePartial sale$1,001 - $15,000Report
Nov 26, 2021Kevin HernRepublican, HouseBuy$50,001 - $100,000Report
Jan 13, 2021Susie LeeDemocratic, HouseSale$1,001 - $15,000Report
Jan 12, 2021Susie LeeDemocratic, HousePartial sale$1,001 - $15,000Report
Oct 19, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000Report
Apr 9, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000Report
Apr 8, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000Report
Nov 8, 2019Susie LeeDemocratic, HouseSale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Duke Realty is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDUKE REALTY CORP2
  • CIK0000783280
  • Employer ID (EIN)35-17404092
  • Filer statusLarge accelerated filer2
  • Incorporated inIndiana2
  • Fiscal year endsDecember 312
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • Business address8711 River Crossing Blvd, Indianapolis, IN 462402
  • Phone31780860002
  • Shares outstanding384,992,716 as of Aug 1, 20228
  • Public float$18.0B as of Jun 30, 20217
  • On EDGAR sinceMar 23, 19942
  • Filings2,808 in all: 4 (1,678), 8-K (350), SC 13G/A (90), 10-Q (86), 424B3 (38), 424B5 (34), 3 (32), 11-K (29)2
    All 53 form types

    DEF 14A (29), POS AM (29), EFFECT (28), S-3 (27), SC 13G (27), 10-K (26), 424B2 (26), UPLOAD (24), 424B7 (23), 4/A (19), 425 (18), CORRESP (18), DEFA14A (18), 8-K/A (15), 5 (13), S-8 POS (13), 8-A12B (12), S-3ASR (12), S-8 (12), S-3/A (10), 25-NSE (7), CERTNYS (7), ARS (6), SC 13D/A (6), 25 (5), PRE 14A (5), SC 13D (5), 15-15D (3), FWP (3), NO ACT (3), 10-K/A (2), 10-K405 (2), 15-12G (2), 3/A (2), POSASR (2), RW (2), S-3MEF (2), 15-12B (1), 5/A (1), 8-A12B/A (1), 8-A12G (1), DEFM14A (1), S-4 (1), SC TO-I (1), SC TO-I/A (1)

  • Latest filingsAnnual report (10-K) Feb 18, 2022
    Quarterly report (10-Q) Aug 8, 2022
    Proxy statement (DEF 14A) Mar 2, 2022
    Latest 8-K (8-K) Oct 3, 2022

Sources

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