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UPDATE 1-Duke Realty Q2 FFO falls 32 pct

Wed Jul 29, 2009 6:25pm EDT

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* Expects 2009 FFO at low end of $1.42-$1.64 a share range

* Q2 FFO 29 cents/shr vs 59 cents/shr yr-ago

July 29 (Reuters) - Office and industrial REIT Duke Realty Corp (DRE.N) posted a 32 percent fall in quarterly funds from operations (FFO), hurt by charges and higher costs, and said it expects full-year FFO at the lower end of its outlook.

The real-estate investment trust reported second-quarter FFO of $61.6 million, or 29 cents per share, compared with $91.1 million, or 59 cents a share, a year-ago. Adjusted FFO was 37 cents a share.

General and administrative expenses almost doubled to $13.6 million.

Duke Realty said it expects full-year FFO at the lower end of its estimate of $1.42 to $1.64 a share.

Shares of the company closed at $9.07 on the New York Stock Exchange. (Reporting by Eric Yep in Bangalore; Editing by Vinu Pilakkott)



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