DDR gives 2013 outlook and raises 1Q dividend

DDR offers 2013 1Q guidance for key financial metric and increases quarterly dividend

Associated Press

BEACHWOOD, Ohio (AP) -- Real estate investment trust DDR expects that a key financial metric will meet or fall short of Wall Street's forecast this year. The company also raised its first-quarter dividend by 12.5 percent from the fourth-quarter payout, to 13.5 cents per share.

DDR Corp. said Monday that it expects funds from operations, or FFO, in a range of $1.07 to $1.11 per share for the year.

Analysts polled by FactSet estimated FFO of $1.11 per share.

FFO adds such items as amortization and depreciation to net income, and is considered a key gauge of a REIT's financial performance.

DDR said its first-quarter dividend will be paid on April 2 to stockholders of record on March 14.

DDR owns and manages 459 shopping centers in 39 states, Puerto Rico and Brazil.

The Beachwood, Ohio, company's shares fell 7 cents to $15.80 in midday trading.