Duke Realty Corporation
), a real estate investment trust, announced the appointment of
James B. Connor as its new Senior Executive Vice President (VP)
and Chief Operating Officer (COO). This reflects a promotion for
Connor from his former post of Senior Regional Executive Vice
James B. Connor is with Duke Realty since the last 15 years.
In 1998, he joined the company as Senior VP, Industrial
Operations. He was promoted to Regional Executive VP, Midwest
Operations in 2003 and later to the post of Senior Regional
Executive VP in 2009. Before joining Duke Realty, Mr. Connor
worked for Cushman and Wakefield for 17 years.
With his vast expertise in the industrial real estate
industry, Connor can be easily regarded as a veteran in the
sector. We expect Duke Realty's successful trajectory to gain
further upside from his skilled guidance and supervision in the
Lately, Duke Realty has been going through senior executives
transitions. In May 2013, the company announced the decision of
its Chief Financial Officer (CFO), Christie B. Kelly to quit her
post. Consequently, Mark A. Denien substituted her. Kelly parted
with Duke Realty to join
Jones Lang LaSalle
) - another REIT - as the CFO.
Notably, in July, Duke Realty reported second-quarter 2013
results with core funds from operations (FFO) of 27 cents per
share, in line with the Zacks Consensus Estimate and a penny
above the prior-year quarter FFO of 26 cents. Better rental
operations as well as a reduction in general and administrative
expenses attributed to the year-over-year increase.
Duke Realty currently carries a Zacks Rank #3 (Hold). Other
better performing REITs include
Winthrop Realty Trust
Chesapeake Lodging Trust
). Both these stocks have a Zacks Rank #1 (Strong Buy).
Note: Funds from operations, a widely accepted and reported
measure of REITs performance, are derived by adding
depreciation, amortization and other non-cash expenses to net
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