$227.63 Million in Sales Expected for DDR Corp. (NYSE:DDR) This Quarter
Equities research analysts forecast that DDR Corp. (NYSE:DDR) will post sales of $227.63 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for DDR Corp.’s earnings. The highest sales estimate is $243.17 million and the lowest is $221.35 million. DDR Corp. posted sales of $245.86 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.4%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that DDR Corp. will report full-year sales of $227.63 million for the current financial year, with estimates ranging from $863.57 million to $978.81 million. For the next year, analysts forecast that the company will post sales of $848.20 million per share, with estimates ranging from $757.00 million to $1.01 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover DDR Corp..
DDR Corp. (NYSE:DDR) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $230.98 million during the quarter, compared to analysts’ expectations of $230.91 million. DDR Corp. had a positive return on equity of 1.60% and a negative net margin of 4.17%. DDR Corp.’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share.
A number of analysts have recently weighed in on the company. Citigroup Inc. cut their target price on DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. TheStreet downgraded DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. Royal Bank Of Canada reiterated a “hold” rating and set a $14.00 target price on shares of DDR Corp. in a research report on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and set a $13.00 target price on shares of DDR Corp. in a research report on Monday, April 24th. Finally, ValuEngine downgraded DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.43.
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In related news, Director Terrance R. Ahern purchased 59,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was bought at an average price of $8.47 per share, with a total value of $499,730.00. Following the completion of the purchase, the director now owns 323,060 shares in the company, valued at approximately $2,736,318.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David R. Lukes purchased 60,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average cost of $8.37 per share, with a total value of $502,200.00. Following the purchase, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,357,325 shares of company stock valued at $12,714,410. Insiders own 16.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its stake in shares of DDR Corp. by 3.6% in the first quarter. ProShare Advisors LLC now owns 84,623 shares of the real estate investment trust’s stock valued at $1,060,000 after buying an additional 2,905 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of DDR Corp. by 73.0% in the first quarter. Nationwide Fund Advisors now owns 47,252 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 19,944 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of DDR Corp. during the first quarter valued at $407,000. CrestPoint Capital Management LLC bought a new stake in shares of DDR Corp. during the first quarter valued at $165,000. Finally, Manning & Napier Advisors LLC boosted its stake in shares of DDR Corp. by 57.6% in the first quarter. Manning & Napier Advisors LLC now owns 451,625 shares of the real estate investment trust’s stock valued at $5,657,000 after buying an additional 165,105 shares during the last quarter. 82.40% of the stock is owned by institutional investors.
Shares of DDR Corp. (NYSE:DDR) traded up 1.31% on Thursday, reaching $9.28. The company had a trading volume of 1,004,156 shares. The firm’s market capitalization is $3.40 billion. DDR Corp. has a 52-week low of $8.11 and a 52-week high of $19.92. The company’s 50-day moving average price is $8.99 and its 200-day moving average price is $12.52.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 8.30%. DDR Corp.’s payout ratio is presently -475.00%.
DDR Corp. Company Profile
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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