The Real Deal Miami

Morgan Stanley posts strong showing, with real estate paying off

January 21, 2010 10:26AM

Financial services and asset management firm Morgan Stanley posted a $413 million profit in the fourth quarter of 2009, driven largely by gains made in its real estate investments, according to a report from Housing Wire. The firm made $61 million in quarterly gains through its institutional securities division, a significant improvement over the same time period a year earlier, when that sector of the company posted a $1.85 billion loss. The firm’s yearly net income came in at $1.35 billion, compared to 2008 when Morgan Stanley posted a $246 million net loss.