DDR Corp. (NYSE:DDR) Receives Consensus Recommendation of “Hold” from Analysts
DDR Corp. (NYSE:DDR) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.75.
A number of equities research analysts recently issued reports on the company. Jefferies Group reissued a “hold” rating on shares of DDR Corp. in a research report on Tuesday, September 13th. Bank of America Corp. downgraded DDR Corp. from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $18.34 to $18.50 in a research report on Thursday, August 25th. BTIG Research assumed coverage on DDR Corp. in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Canaccord Genuity increased their price target on DDR Corp. from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Finally, Citigroup Inc. increased their price target on DDR Corp. from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, August 12th.
Shares of DDR Corp. (NYSE:DDR) traded down 0.74% during midday trading on Tuesday, hitting $17.51. The company had a trading volume of 2,271,655 shares. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 29.38 and a beta of 1.04. The stock’s 50-day moving average price is $18.69 and its 200-day moving average price is $18.01. DDR Corp. has a one year low of $14.99 and a one year high of $19.92.
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DDR Corp. (NYSE:DDR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $245.90 million for the quarter, compared to the consensus estimate of $243.03 million. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Analysts predict that DDR Corp. will post $1.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Wednesday, September 21st. DDR Corp.’s payout ratio is 126.67%.
In related news, VP Christa A. Vesy sold 5,000 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $17.38, for a total value of $86,900.00. Following the completion of the sale, the vice president now directly owns 89,506 shares in the company, valued at $1,555,614.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Roulston acquired 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was bought at an average price of $18.61 per share, with a total value of $102,355.00. Following the completion of the acquisition, the director now directly owns 18,723 shares of the company’s stock, valued at $348,435.03. The disclosure for this purchase can be found here. 16.20% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in DDR Corp. by 2,638.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,215 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 7,915 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 100 shares during the last quarter. GSA Capital Partners LLP bought a new stake in DDR Corp. during the second quarter worth $245,000. Gateway Investment Advisers LLC increased its stake in DDR Corp. by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 14,563 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 1,051 shares during the last quarter. Finally, World Asset Management Inc increased its stake in DDR Corp. by 6.5% in the second quarter. World Asset Management Inc now owns 14,895 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 907 shares during the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.
About DDR Corp.
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.
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