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Duke Realty Corporation Message Board

  • saiani saiani Nov 19, 2008 4:17 PM Flag

    Have we been invaded?

    This doesn't even feel like the same country we lived in last year, this is unbelievable, everywhere you look it is gloom and doom all at the same time. Just imposible to understand what is going on in this country anymore. Just had to vent.....

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    • Yes, we were invaded on November 4, 2008 by an invader that has the ability to constantly change its name, image, dialect, religion, etc, etc.. The American electorate - lacking education, knowledge, and/or facts - voted for Mr. Change in order to solve all problems known to man.

      Mr. Change is now in charge, and "you will love him". Just like another man with "Hussein" in his name, this one will dictate your life or destroy you or both.

      Sometimes, you get what you wish for. And sometimes, you get what you vote for. Unlike wishes, votes always come true.

    • I have 2000 shares in DRE and I need the dividend for my personal expenses. Now I loss over 50% of my principal and I hope they will continue to send me the dividend check. I am not sure what to do. I stock and may be no dividend. Can someone call the company to see what is going on? Old men need help.

      • 1 Reply to JDTSE
      • Dear Old Man;

        This was written yesterday. Plese read and stay calm.

        1. We are well positioned for the times that lie ahead. First, as I mentioned, we’ve made liquidity our top priority. As we showed to you, we already have enough liquidity to meet our needs for the next 18 to 24 months. Bob Chapman and others are working diligently to dispose of assets in both our build for sale and held for rental portfolio, and to attract new sources of funds in the joint venture area.
        We are regularly monitoring the public and other capital markets and will take advantage of opportunities as they arise.

        2. We have solid dividend coverage. As you know, our board of directors has declared a quarterly common stock dividend of $0.485 per share or $1.94 on an annualized basis. We expect that even with our reduced guidance, our payout ratio will be below 100% in 2008.

        3. We aversely halted new development commitment until economic conditions improve. However, we have a strong backlog of new development in third party projects in the pipeline, which will help us weather the downturn.

        4. Our existing tenant base remains extremely diversified and financially strong, as our delinquencies are at near historic lows.

        5. And finally, our stabilized properties are 93.8% leased, with less than 10% of our wholly owned leases expiring between the beginning of the fourth quarter of 2008 and the end of 2009.

        The above are from the 3rd quarter conference call minutes per Denny Oklak. I might also add:

        6. This company owns real assets (not paper)that have some intrinsic value, probably more value than the existing debt.

        7. Management of this company are straight shooters. The numbers are the numbers and they are not hiding anything like other companies tend to do.

        8. The broad market is due for a multi-week bounce after one more leg down. Duke will bounce up with the rest of them. Maybe not a long-term hold, but definately a short-term play here.

        9. This credit crisis will not last forever, maybe 6-18 months. Duke will be very aggressive in renewing their debt. It will not be in any lender's best interest to throw this company into bankruptcy as long as their are making their payments.

        10. I rarely argue that the market is wrong, but this company is so extremely oversold that I personally would buy 51% of it if someone would lend me the money at the prime rate.

    • LOL... I have no idea what is going on with DRE.. total insanity. I'm still buying in small amounts which is all it's going to take when sanity returns.

      I think if we were invaded by China the market would look at it as a positive! :)

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