Q3 2017 EPS Estimates for DDR Corp. Reduced by Analyst (NYSE:DDR)
DDR Corp. (NYSE:DDR) – Capital One Financial Corporation reduced their Q3 2017 earnings estimates for shares of DDR Corp. in a research report issued to clients and investors on Tuesday. Capital One Financial Corporation analyst C. Lucas now expects that the real estate investment trust will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.29. Capital One Financial Corporation also issued estimates for DDR Corp.’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.12 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $1.04 EPS.
DDR Corp. (NYSE:DDR) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. DDR Corp. had a negative net margin of 4.17% and a positive return on equity of 1.60%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS.
Several other brokerages also recently issued reports on DDR. Jefferies Group LLC reissued a “hold” rating and set a $13.00 price target on shares of DDR Corp. in a report on Monday, April 24th. Royal Bank Of Canada reissued a “hold” rating and set a $14.00 price target on shares of DDR Corp. in a report on Thursday, April 27th. BidaskClub raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Boenning Scattergood raised shares of DDR Corp. from an “underperform” rating to a “neutral” rating in a report on Monday, May 15th. They noted that the move was a valuation call. Finally, Citigroup Inc. reduced their price target on shares of DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.71.
Shares of DDR Corp. (DDR) opened at 10.30 on Thursday. The stock has a 50 day moving average of $9.21 and a 200-day moving average of $11.78. The stock’s market capitalization is $3.77 billion. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.92.
Large investors have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in DDR Corp. during the first quarter valued at $326,000. Brookfield Asset Management Inc. increased its stake 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 increased its stake 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 stake in DDR Corp. during the fourth quarter valued at $34,076,000. Finally, Clinton Group Inc. boosted its stake in shares of 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 period. 82.42% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Katharina Otto-Bernstein acquired 500,000 shares of DDR Corp. stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average price of $9.40 per share, with a total value of $4,700,000.00. Following the completion of the acquisition, the insider now directly owns 16,255,505 shares of the company’s stock, valued at approximately $152,801,747. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David R. Lukes acquired 170,000 shares of DDR Corp. stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average cost of $9.48 per share, with a total value of $1,611,600.00. Following the acquisition, the chief executive officer now directly owns 372,948 shares of the company’s stock, valued at $3,535,547.04. The disclosure for this purchase can be found here. Insiders purchased 1,357,325 shares of company stock valued at $12,714,410 in the last ninety days. Corporate insiders own 16.20% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.38%. The ex-dividend date was Tuesday, June 13th. DDR Corp.’s payout ratio is currently -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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