The figure was two cents off analysts' expectations. The companyhas been struggling to regain balance and credibility sinceFebruary when the firm discovered that two executives receivedalmost $5 million in undisclosed compensation involving dealingswith Wal-Mart and Lowe's. Since the ensuing investigation, some ofthe top senior management team has left.
The REIT has engaged Lazard Freres & Co., financialadvisors, to study various options to find financing for its retaildevelopment. JDN must come up with $118 million to complete 41shopping centers either under way or planned.
The company anticipates receiving $150 million this year fromthe sale of shopping centers.The funds will go toward new retailprojects.
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