DDR Corp Receives “Neutral” Rating from Zacks (DDR)
DDR Corp (NYSE:DDR)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, Stock Ratings Network reports. They currently have a $17.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 7.32% from the stock’s previous close.
Zacks‘ analyst wrote, “DDR is scheduled to report third-quarter 2013 earnings on Nov 4, 2013, after the closing bell. Aided by organic growth and prime assets acquisitions, the company reported a year over year increase in second-quarter 2013 operating FFO per share. However, earnings came in line with the Zacks Consensus Estimate as the positive impact was partly dwarfed by asset sales. Nevertheless, the company’s long-term strategy of improving the balance sheet by reducing leverage raised hopes. Moreover, the recent 7 assets portfolio buyout and tenant base strengthening efforts promise solid growth, going forward. However, stiff competition from other players in the market, rise in interest rates, dependency on few tenants, and ascend in Internet sales that adversely impact the demand for retail space remains our concerns. Hence, we maintain our Neutral recommendation on the stock.”
Shares of DDR Corp (NYSE:DDR) traded down 0.41% during mid-day trading on Friday, hitting $15.775. 811,106 shares of the company’s stock traded hands. DDR Corp has a 52-week low of $14.79 and a 52-week high of $19.54. The stock’s 50-day moving average is $15.85 and its 200-day moving average is $17.16. The company’s market cap is $5.000 billion.
DDR Corp (NYSE:DDR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.27. The company had revenue of $217.09 million for the quarter, compared to the consensus estimate of $204.42 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, analysts predict that DDR Corp will post $1.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, October 6th. Investors of record on Monday, September 23rd will be paid a dividend of $0.14 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, September 19th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of DDR Corp (NYSE:DDR) from $21.00 to $20.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Separately, analysts at Capital One Financial Corp. initiated coverage on shares of DDR Corp (NYSE:DDR) in a research note to investors on Monday, September 16th. They set an “add” rating on the stock. Finally, analysts at Cowen and Company cut their price target on shares of DDR Corp (NYSE:DDR) from $19.00 to $18.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.44.
DDR Corp.(NYSE:DDR) is a self-administered and self-managed real estate investment trust.
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