KeyCorp Analysts Give DDR Corp. (DDR) a $21.00 Price Target
DDR Corp. (NYSE:DDR) has been assigned a $21.00 price objective by analysts at KeyCorp in a research note issued on Thursday. The firm currently has a a “buy” rating on the real estate investment trust’s stock. KeyCorp’s target price would indicate a potential upside of 27.74% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Citigroup Inc. increased their target price 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. Credit Suisse Group AG downgraded shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 target price for the company. in a research report on Wednesday, July 27th. Jefferies Group reiterated a “hold” rating on shares of DDR Corp. in a research report on Tuesday, August 23rd. Canaccord Genuity increased their target price on shares of DDR Corp. from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG increased their target price on shares of DDR Corp. from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. DDR Corp. currently has a consensus rating of “Hold” and an average target price of $19.04.
Shares of DDR Corp. (NYSE:DDR) traded down 0.30% during mid-day trading on Thursday, hitting $16.39. The stock had a trading volume of 1,864,558 shares. DDR Corp. has a 52-week low of $15.36 and a 52-week high of $19.92. The firm has a 50 day moving average price of $18.04 and a 200 day moving average price of $18.01. The firm has a market cap of $5.98 billion, a PE ratio of 27.50 and a beta of 1.00.
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DDR Corp. (NYSE:DDR) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The company earned $245.90 million during the quarter, compared to the consensus estimate of $243.03 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that DDR Corp. will post $1.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 annualized dividend and a yield of 4.62%. DDR Corp.’s dividend payout ratio is 126.67%.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $19.50, for a total value of $312,000.00. Following the sale, the director now directly owns 51,954 shares in the company, valued at approximately $1,013,103. 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 purchased 5,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was bought at an average price of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the transaction, 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. 16.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board raised 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 valued at $158,000 after buying an additional 100 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in DDR Corp. by 1.0% in the first quarter. BlackRock Japan Co. Ltd now owns 16,176 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 154 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in DDR Corp. by 1.0% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 21,300 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 219 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in DDR Corp. by 1.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 25,326 shares of the real estate investment trust’s stock valued at $459,000 after buying an additional 361 shares in the last quarter. Finally, World Asset Management Inc raised 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 valued at $270,000 after buying an additional 907 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.
DDR Corp. Company Profile
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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