(DDR) Developers Diversified Realty Updates Guidance for 2009

Developers Diversified Realty Corporation (DDR), a leading real estate investment trust (REIT), recently provided an update on its 2009 accomplishments along with an outlook for 2010. The company expects 2010 FFO (funds from operations) to range between $1.05 and $1.15 per share. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. Despite the challenging macroeconomic environment, Developers Diversified raised about $2.0 billion in capital in 2009 through asset sales, equity and debt. During the full fiscal year, the company sold $590 million worth of JV assets, in which its share was $380 million. Developers Diversified sold $320 million of common equity – $113 million to the Otto Group and $207 million through