Morgan Stanley took $1.9 billion in net losses on investments in real estate during 2009 due to what it said is an ongoing decline in the market. The company said this affected its firmwide results when discontinued operations are included: net income of about $1.35 billion and a loss of $0.76 per diluted share. This compared to a net loss applicable to Morgan Stanley of $246 million, or $0.71 per diluted share in 2008. During the fourth quarter, net income was $617 million, or $0.29 per diluted share, compared with a net loss of about $10.9 million, or $11.35 per diluted share, in the fourth quarter of 2008.
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