J.P. Morgan Comments On Developers Diversified Reality's 4Q Earnings

In a report published J.P. Morgan, post Developers Diversified Realty's DDR 4Q earnings, it is publishing its updated model and 2011/2012 estimates.

J.P. Morgan said that its new “headline” 2011 FFO/share estimate is $0.87, which includes approximately $0.08 of estimated one-time charges in 1Q. “The $0.08 of non-recurring charges relate to the previous CEO ($16 million) and the forthcoming preferred stock redemption ($6 million). On a “clean” basis (ex one-time items), our 2011 FFO/share estimate is $0.95, which is $0.04 below our prior estimate. Lastly, note that we are slightly lowering our 2012 FFO/share estimate from $0.97 to $0.95.”

Developers Diversified Realty closed yesterday at $14.15.