J.P. Morgan Reiterates Hold On Developers Diversified Realty (DDR)

J.P. Morgan is out with its report on Developers Diversified Realty DDR, reiterating its Hold rating.

In the report, J.P. Morgan writes "Despite the discounted multiple and our view that the company's 2011 core growth will be above average (versus the strip center REIT group), we maintain a Neutral rating on DDR because: 1) at this point in the economic cycle, we are increasingly
bias towards the relatively more economically leveraged property types; and 2) we believe the company's continued deleveraging activities could weigh on near-term growth, as the industry's focus is moving back to earnings growth."

J.P. Morgan also maintains its $14 PT.

Shares of DDR closed Monday at $13.96.