DDR Corp Receives Neutral Rating from Zacks (DDR)
DDR Corp (NYSE:DDR)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday. They currently have a $18.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 3.39% from the stock’s previous close.
Zacks’ analyst wrote, “DDR is slated to report its second-quarter 2014 earnings on Jul 30, 2014, after the closing bell. The company’s first-quarter 2014 operating FFO per share was in line with the Zacks Consensus Estimate and a cent above the prior-year quarters’ figure. Organic growth and prime assets acquisitions aided its results, but the positives were partly offset by asset sales. Going forward, we believe that the company’s portfolio repositioning efforts and capital allocation strategies would help it to ride on the growth trajectory. The recent Blackstone-deal for shopping centers buyout bode well in this respect. Also, DDR’s recent store recapturing efforts are expected to boost its top-line growth. Yet, stiff competition and rise in Internet sales limit any robust demand of its properties. Furthermore, expected increase in interest rates in the long term remains a concern.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of DDR Corp from $19.00 to $20.00 in a research note on Thursday. Analysts at Imperial Capital raised their price target on shares of DDR Corp from $18.00 to $19.00 in a research note on Thursday, May 8th. They now have an “outperform” rating on the stock. Three analysts have 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 an average price target of $19.30.
Shares of DDR Corp (NYSE:DDR) traded down 0.91% on Thursday, hitting $17.41. 2,019,029 shares of the company’s stock traded hands. DDR Corp has a 52 week low of $14.89 and a 52 week high of $17.92. The stock’s 50-day moving average is $17.35 and its 200-day moving average is $16.. The company’s market cap is $6.226 billion.
DDR Corp (NYSE:DDR) last released its earnings data on Tuesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $246.02 million for the quarter, compared to the consensus estimate of $247.29 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Analysts expect that DDR Corp will post $1.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 8th. Investors of record on Thursday, June 12th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Tuesday, June 10th.
DDR Corp.(NYSE:DDR) is a self-administered and self-managed real estate investment trust.
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