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What: Shares of office and industrial REIT Duke Realty
So what: After yesterday's close, Duke announced positive fourth-quarter and full-year results. The company registered $0.28 in funds from operations during the quarter, a penny better than what Wall Street analysts were looking for. Duke also said that its portfolio occupancy rate was 89.1% at the end of the quarter, the highest level since 2004. Shares may also be getting a boost today from the market's excitement over the potential merger between ProLogis and AMB Property Corp.
Now what: The recession was clearly a challenging period for Duke Realty as lower income and big write-downs led to a hefty loss in 2009 and a very tepid 2010. The hope is that as the economy recovers, the markets that it plays in will continue to firm up, and that will lead to a healthier-looking bottom line in 2011 and beyond.
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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.