Duke Realty Corp. (DRE) shares did not react well to the news of a vaccine on November 9th, as the share price fell by nearly 5% from the end of trading on November 8th to end of trading on November 9th. Apparently, Wall Street believes that the end of the pandemic would harm Duke Realty’s growth prospects. In this article, I show why this may not be the case and what makes it an attractive long-term investment. So, let’s get started.
Duke Realty Corp. is a self-managed REIT that has a rather simplistic business model of owning and managing U.S. industrial assets. It has over 800 tenants, and 156 million of gross leasable space across 518 properties. Duke Realty is also a member of the S&P 500 and has a 25+ year history as a public company. As seen below, it’s well-diversified geographically, with a presence in 20 markets. By 2021, management expects that 70% of its geographic focus will be on Tier 1 markets.
