KeyCorp Equities Analysts Reduce Earnings Estimates for DDR Corp. (DDR)
DDR Corp. (NYSE:DDR) – Stock analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for shares of DDR Corp. in a research report issued on Tuesday. KeyCorp analyst T. Thomas now expects that the real estate investment trust will earn $0.96 per share for the year, down from their prior forecast of $1.09. KeyCorp currently has a “Overweight” rating and a $13.00 target price on the stock.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. DDR Corp. had a positive return on equity of 1.60% and a negative net margin of 4.17%. The company had revenue of $230.98 million during the quarter, compared to analyst estimates of $230.91 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis.
A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded DDR Corp. from a “strong sell” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $9.00 price objective on shares of DDR Corp. in a report on Tuesday, June 20th. Zacks Investment Research cut DDR Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet cut DDR Corp. from a “c-” rating to a “d+” rating in a report on Thursday, May 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. DDR Corp. has a consensus rating of “Hold” and an average price target of $15.68.
Shares of DDR Corp. (DDR) traded up 1.80% during mid-day trading on Wednesday, reaching $9.07. The company had a trading volume of 982,806 shares. DDR Corp. has a 1-year low of $8.28 and a 1-year high of $19.92. The stock’s market capitalization is $3.32 billion. The firm has a 50-day moving average price of $9.22 and a 200-day moving average price of $12.82.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 8.53%. The ex-dividend date is Tuesday, June 13th. DDR Corp.’s payout ratio is -475.00%.
In related news, Director Terrance R. Ahern purchased 59,000 shares of DDR Corp. stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $8.47 per share, with a total value of $499,730.00. Following the transaction, the director now owns 323,060 shares in the company, valued at approximately $2,736,318.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexander Otto purchased 500,000 shares of DDR Corp. stock in a transaction dated Tuesday, May 9th. The stock was bought at an average cost of $9.52 per share, with a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 44,509,893 shares in the company, valued at approximately $423,734,181.36. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,357,325 shares of company stock valued at $12,714,410. Corporate insiders own 16.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. raised its position in DDR Corp. by 83.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,622,500 shares of the real estate investment trust’s stock valued at $24,776,000 after buying an additional 739,000 shares during the last quarter. Swiss National Bank raised its position in DDR Corp. by 0.6% in the first quarter. Swiss National Bank now owns 514,300 shares of the real estate investment trust’s stock valued at $6,444,000 after buying an additional 3,100 shares during the last quarter. Norges Bank bought a new position in DDR Corp. during the fourth quarter valued at approximately $34,076,000. Clinton Group Inc. raised its position in DDR Corp. by 1,237.5% in the first quarter. Clinton Group Inc. now owns 611,104 shares of the real estate investment trust’s stock valued at $7,657,000 after buying an additional 565,413 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in DDR Corp. during the fourth quarter valued at approximately $4,097,000. 82.40% of the stock is owned by hedge funds and other institutional investors.
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).
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.