DDR Corp. (DDR) Shares Down 2.3%
DDR Corp. (NYSE:DDR) shares fell 2.3% during trading on Wednesday . The company traded as low as $17.05 and last traded at $17.08, with a volume of 3,051,770 shares trading hands. The stock had previously closed at $17.48.
DDR has been the subject of several recent research reports. Mizuho lowered shares of DDR Corp. from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $19.00 to $17.00 in a research report on Monday, July 11th. Bank of America Corp. lowered shares of DDR Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Jefferies Group reissued a “hold” rating on shares of DDR Corp. in a research report on Tuesday, September 13th. Canaccord Genuity reissued a “hold” rating on shares of DDR Corp. in a research report on Monday, July 11th. Finally, Citigroup Inc. increased their price target on shares of DDR Corp. from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.77.
The company has a market cap of $6.39 billion, a price-to-earnings ratio of 29.36 and a beta of 1.04. The company’s 50 day moving average is $18.57 and its 200-day moving average is $18.01.
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DDR Corp. (NYSE:DDR) last released its quarterly earnings data 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 earned $245.90 million during the quarter, compared to analysts’ expectations of $243.03 million. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Equities analysts anticipate that DDR Corp. will post $1.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, September 21st. DDR Corp.’s payout ratio is 126.67%.
In other DDR Corp. news, VP Christa A. Vesy sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $17.38, for a total transaction of $86,900.00. Following the sale, the vice president now directly owns 89,506 shares of the company’s stock, valued at approximately $1,555,614.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott D. Roulston bought 5,500 shares of DDR Corp. stock in a transaction on Tuesday, August 23rd. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the acquisition, the director now directly owns 18,723 shares in the company, valued at $348,435.03. The disclosure for this purchase can be found here. Company insiders own 16.20% of the company’s stock.
A number of large investors have recently bought and sold shares of DDR. Royal Bank of Canada raised its stake in DDR Corp. by 367.8% in the second quarter. Royal Bank of Canada now owns 60,410 shares of the real estate investment trust’s stock worth $1,095,000 after buying an additional 47,495 shares in the last quarter. Calvert Investment Management Inc. purchased a new stake in DDR Corp. during the second quarter worth approximately $11,352,000. Schwab Charles Investment Management Inc. raised its stake in DDR Corp. by 13.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,041,949 shares of the real estate investment trust’s stock worth $37,041,000 after buying an additional 237,533 shares in the last quarter. Amalgamated Bank raised its stake in DDR Corp. by 5.6% in the second quarter. Amalgamated Bank now owns 37,200 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 1,961 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in DDR Corp. by 12.5% in the second quarter. Legal & General Group Plc now owns 746,636 shares of the real estate investment trust’s stock worth $13,543,000 after buying an additional 82,763 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
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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