KeyCorp Reiterates $21.00 Price Target for DDR Corp. (DDR)
DDR Corp. (NYSE:DDR) has been given a $21.00 price target by research analysts at KeyCorp in a research note issued on Thursday. The brokerage presently 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 previous close.
Other research analysts also recently issued research reports about the company. Citigroup Inc. lifted their price target on DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Credit Suisse Group AG downgraded DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price target on the stock. in a report on Wednesday, July 27th. Jefferies Group reiterated a “hold” rating on shares of DDR Corp. in a report on Tuesday, August 23rd. Canaccord Genuity lifted their price target on DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, August 16th. Finally, Deutsche Bank AG lifted their price target on DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. DDR Corp. currently has a consensus rating of “Hold” and a consensus price target of $19.04.
DDR Corp. (NYSE:DDR) traded down 0.06% during mid-day trading on Thursday, reaching $16.43. The company’s stock had a trading volume of 2,042,584 shares. The firm has a 50 day moving average price of $18.04 and a 200-day moving average price of $18.01. The company has a market capitalization of $6.00 billion, a PE ratio of 27.57 and a beta of 1.00. DDR Corp. has a 1-year low of $15.36 and a 1-year high of $19.92.
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DDR Corp. (NYSE:DDR) last announced 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. The company had revenue of $245.90 million for the quarter, compared to analyst estimates of $243.03 million. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. DDR Corp.’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, equities analysts predict that DDR Corp. will post $1.26 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 4.62%. DDR Corp.’s dividend payout ratio is currently 126.67%.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $19.50, for a total value of $312,000.00. Following the completion of the sale, the director now owns 51,954 shares of the company’s stock, valued at $1,013,103. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott D. Roulston acquired 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were acquired at an average cost of $18.61 per share, with a total value of $102,355.00. Following the transaction, the director now directly owns 18,723 shares in the company, valued at approximately $348,435.03. The disclosure for this purchase can be found here. 16.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of DDR. Aperio Group LLC boosted its position in DDR Corp. by 5.6% in the first quarter. Aperio Group LLC now owns 87,049 shares of the real estate investment trust’s stock valued at $1,549,000 after buying an additional 4,654 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its position in DDR Corp. by 65.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 55,460 shares of the real estate investment trust’s stock valued at $987,000 after buying an additional 22,000 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in DDR Corp. by 1.0% in the first quarter. TIAA CREF Investment Management LLC now owns 644,216 shares of the real estate investment trust’s stock valued at $11,461,000 after buying an additional 6,459 shares in the last quarter. Teachers Advisors Inc. boosted its position in DDR Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 2,368,706 shares of the real estate investment trust’s stock valued at $42,139,000 after buying an additional 55,154 shares in the last quarter. Finally, BlackRock Inc. boosted its position in DDR Corp. by 57.5% in the first quarter. BlackRock Inc. now owns 430,751 shares of the real estate investment trust’s stock valued at $7,663,000 after buying an additional 157,193 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.
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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