DDR Corp’s (DDR) “Hold” Rating Reaffirmed at Jefferies Group LLC
DDR Corp (NYSE:DDR)‘s stock had its “hold” rating reissued by Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $13.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 45.09% from the company’s previous close.
Several other analysts also recently commented on DDR. TheStreet downgraded shares of DDR Corp from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. Mizuho boosted their target price on shares of DDR Corp to $15.00 and gave the stock a “neutral” rating in a research report on Monday, March 6th. Zacks Investment Research raised shares of DDR Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 1st. Boenning Scattergood raised shares of DDR Corp from an “underperform” rating to a “neutral” rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, Canaccord Genuity decreased their target price on shares of DDR Corp from $20.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, February 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.21.
Shares of DDR Corp (NYSE:DDR) traded down 1.54% during trading on Friday, hitting $8.96. 2,960,167 shares of the stock were exchanged. DDR Corp has a 12-month low of $8.60 and a 12-month high of $19.92. The stock’s 50 day moving average is $10.75 and its 200-day moving average is $13.58. The stock’s market cap is $3.28 billion.
DDR Corp (NYSE:DDR) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $230.98 million during the quarter, compared to the consensus estimate of $230.91 million. DDR Corp had a net margin of 6.19% and a return on equity of 1.98%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that DDR Corp will post ($0.16) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.48%. The ex-dividend date is Tuesday, June 13th. DDR Corp’s payout ratio is 690.97%.
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In other news, Director Robert H. Gidel acquired 4,000 shares of DDR Corp stock in a transaction dated Thursday, March 23rd. The stock was acquired at an average cost of $12.80 per share, for a total transaction of $51,200.00. Following the completion of the purchase, the director now owns 54,153 shares of the company’s stock, valued at $693,158.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Otto acquired 500,000 shares of DDR Corp stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average price of $9.52 per share, with a total value of $4,760,000.00. Following the completion of the purchase, the director now directly owns 44,509,893 shares of the company’s stock, valued at approximately $423,734,181.36. The disclosure for this purchase can be found here. Insiders bought 1,307,000 shares of company stock valued at $12,667,540 over the last 90 days. 16.20% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Princeton Alpha Management LP boosted its position in DDR Corp by 56.6% in the third quarter. Princeton Alpha Management LP now owns 147,355 shares of the real estate investment trust’s stock valued at $2,568,000 after buying an additional 53,254 shares during the last quarter. KRV Capital LP boosted its position in DDR Corp by 78.5% in the third quarter. KRV Capital LP now owns 950,000 shares of the real estate investment trust’s stock valued at $16,559,000 after buying an additional 417,842 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DDR Corp by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,166 shares of the real estate investment trust’s stock valued at $1,362,000 after buying an additional 1,153 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in DDR Corp by 14.0% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 148,910 shares of the real estate investment trust’s stock valued at $2,596,000 after buying an additional 18,231 shares during the last quarter. Finally, Two Sigma Securities LLC boosted its position in DDR Corp by 17.9% in the third quarter. Two Sigma Securities LLC now owns 45,077 shares of the real estate investment trust’s stock valued at $786,000 after buying an additional 6,840 shares during the last quarter. Institutional investors and hedge funds own 89.32% of the company’s stock.
About DDR Corp
DDR Corp. is a self-administered and self-managed real estate investment trust. It operates through two segments: shopping centers and loan investments. It is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. As of December 31, 2016, it owned and managed approximately 106 million total square feet of gross leasable area (GLA).
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