DDR Corp. (NYSE:DDR) Receives Average Rating of “Hold” from Analysts
DDR Corp. (NYSE:DDR) has earned a consensus recommendation of “Hold” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.75.
DDR has been the subject of a number of analyst reports. Citigroup Inc. dropped their price target 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. Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $13.00 in a research report on Thursday, July 27th. TheStreet lowered DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. BidaskClub upgraded DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, ValuEngine lowered DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
DDR Corp. (DDR) traded down 0.50% during trading on Friday, reaching $10.00. The company’s stock had a trading volume of 3,099,236 shares. DDR Corp. has a one year low of $8.11 and a one year high of $19.22. The stock has a 50-day moving average of $9.57 and a 200 day moving average of $11.43. The firm’s market capitalization is $3.67 billion.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. DDR Corp.’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities research analysts predict that DDR Corp. will post ($0.11) EPS for the current fiscal year.
In other news, COO Michael Makinen purchased 11,325 shares of the stock in a transaction dated Friday, June 2nd. The stock was acquired at an average cost of $8.83 per share, for a total transaction of $99,999.75. Following the completion of the transaction, the chief operating officer now directly owns 66,361 shares in the company, valued at approximately $585,967.63. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Terrance R. Ahern purchased 59,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average price of $8.47 per share, with a total value of $499,730.00. Following the completion of the transaction, the director now owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 132,325 shares of company stock valued at $1,119,330. Company 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. Kempen Capital Management N.V. raised its position in DDR Corp. by 109.8% in the second quarter. Kempen Capital Management N.V. now owns 303,038 shares of the real estate investment trust’s stock valued at $2,748,000 after buying an additional 158,617 shares in the last quarter. Profund Advisors LLC raised its position in DDR Corp. by 25.9% in the second quarter. Profund Advisors LLC now owns 15,228 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 3,132 shares in the last quarter. BT Investment Management Ltd purchased a new position in DDR Corp. during the second quarter valued at approximately $998,000. Amalgamated Bank raised its position in DDR Corp. by 26.4% in the second quarter. Amalgamated Bank now owns 55,874 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 11,665 shares in the last quarter. Finally, BlackRock Inc. raised its position in DDR Corp. by 7.5% in the second quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock valued at $201,598,000 after buying an additional 1,545,615 shares in the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.
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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