DDR Corp. (DDR) Stock Rating Lowered by Boenning Scattergood
DDR Corp. (NYSE:DDR) was downgraded by investment analysts at Boenning Scattergood from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports.
Several other analysts also recently commented on DDR. Jefferies Group assumed coverage on DDR Corp. in a research note on Thursday, June 30th. They set a “hold” rating and a $19.00 target price on the stock. Canaccord Genuity reiterated a “hold” rating on shares of DDR Corp. in a research note on Monday, July 11th. Deutsche Bank AG increased their target price on DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, July 18th. KeyCorp set a $21.00 target price on DDR Corp. and gave the company a “buy” rating in a research note on Thursday, October 6th. Finally, Credit Suisse Group AG downgraded DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 target price on the stock. in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.04.
DDR Corp. (NYSE:DDR) opened at 16.36 on Tuesday. DDR Corp. has a 12 month low of $15.36 and a 12 month high of $19.92. The stock has a 50 day moving average price of $17.62 and a 200 day moving average price of $17.99. The stock has a market capitalization of $5.97 billion, a PE ratio of 27.45 and a beta of 1.00.
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DDR Corp. (NYSE:DDR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The business had revenue of $245.90 million for the quarter, compared to the consensus estimate of $243.03 million. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts forecast that DDR Corp. will post $1.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 23rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.65%. 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 firm’s 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 sale, the director now directly owns 51,954 shares of the company’s stock, valued at $1,013,103. The transaction was disclosed in a legal filing with the SEC, which is available 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 cost of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the acquisition, the director now 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 corporate insiders.
A number of large investors have recently bought and sold shares of DDR. Nisa Investment Advisors LLC boosted its stake in DDR Corp. by 25.8% in the third quarter. Nisa Investment Advisors LLC now owns 69,760 shares of the real estate investment trust’s stock worth $1,216,000 after buying an additional 14,300 shares in the last quarter. Pensionfund Sabic acquired a new stake in DDR Corp. during the third quarter worth approximately $732,000. Pensionfund DSM Netherlands acquired a new stake in DDR Corp. during the third quarter worth approximately $1,917,000. Royal Bank of Canada boosted 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. Finally, Calvert Investment Management Inc. acquired a new stake in DDR Corp. during the second quarter worth approximately $11,352,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
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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