DDR Corp. to Post FY2017 Earnings of $1.18 Per Share, KeyCorp Forecasts (DDR)
DDR Corp. (NYSE:DDR) – KeyCorp lowered their FY2017 earnings estimates for DDR Corp. in a report issued on Wednesday. KeyCorp analyst T. Thomas now forecasts that the firm will earn $1.18 per share for the year, down from their previous estimate of $1.28. KeyCorp currently has a “Buy” rating and a $21.00 target price on the stock.
DDR Corp. (NYSE:DDR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business earned $245.90 million during 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%. DDR Corp.’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS.
DDR has been the topic of several other research reports. Jefferies Group reaffirmed 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 upped their target price for the company from $18.34 to $18.50 in a research report on Thursday, August 25th. BTIG Research started coverage on DDR Corp. in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Mizuho cut DDR Corp. from a “neutral” rating to an “underperform” rating and cut their price target for the company from $19.00 to $17.00 in a research note on Monday, July 11th. Finally, Zacks Investment Research upgraded DDR Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, October 3rd. 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.04.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/ddr-corp-to-post-fy2017-earnings-of-1-18-per-share-keycorp-forecasts-ddr.html
DDR Corp. (NYSE:DDR) opened at 16.40 on Monday. The company has a market cap of $5.99 billion, a P/E ratio of 27.52 and a beta of 1.00. DDR Corp. has a 52-week low of $15.36 and a 52-week high of $19.92. The company’s 50 day moving average price is $17.98 and its 200 day moving average price is $18.01.
The firm also recently declared 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. The ex-dividend date is Wednesday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.63%. DDR Corp.’s payout ratio is currently 126.67%.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $19.50, for a total transaction of $312,000.00. Following the completion of the sale, the director now directly owns 51,954 shares in the company, valued at approximately $1,013,103. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott D. Roulston purchased 5,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were acquired 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 owns 18,723 shares in the company, valued at approximately $348,435.03. The disclosure for this purchase can be found here. Company insiders own 16.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of 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 worth $1,549,000 after buying an additional 4,654 shares during 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 worth $987,000 after buying an additional 22,000 shares during the period. 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 worth $11,461,000 after buying an additional 6,459 shares during the period. 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 worth $7,663,000 after buying an additional 157,193 shares during the period. Finally, BlackRock Group LTD boosted its position in DDR Corp. by 1.1% in the first quarter. BlackRock Group LTD now owns 2,174,712 shares of the real estate investment trust’s stock worth $38,689,000 after buying an additional 24,390 shares during the period. Hedge funds and other 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.
Receive News & Ratings for DDR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DDR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.