Zacks: Brokerages Expect DDR Corp. (DDR) Will Post Earnings of $0.27 Per Share
Brokerages forecast that DDR Corp. (NYSE:DDR) will report $0.27 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for DDR Corp.’s earnings, with estimates ranging from $0.25 to $0.28. DDR Corp. posted earnings per share of ($0.18) in the same quarter last year, which would suggest a positive year over year growth rate of 250%. The business is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that DDR Corp. will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.09 to $1.15. For the next year, analysts expect that the company will report earnings of $1.04 per share, with EPS estimates ranging from $0.94 to $1.09. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for DDR Corp..
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis.
A number of research analysts have weighed in on the stock. Boenning Scattergood reissued a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $13.00 in a research report on Thursday, July 27th. Zacks Investment Research raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine lowered shares of DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.00.
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Shares of DDR Corp. (NYSE:DDR) opened at 10.00 on Friday. The firm’s market capitalization is $3.67 billion. The firm has a 50-day moving average price of $9.91 and a 200 day moving average price of $10.69. DDR Corp. has a one year low of $8.11 and a one year high of $18.59.
In related news, Director Terrance R. Ahern acquired 59,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were bought at an average price of $8.47 per share, for a total transaction of $499,730.00. Following the acquisition, the director now owns 323,060 shares in the company, valued at approximately $2,736,318.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David R. Lukes acquired 60,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of $8.37 per share, for a total transaction of $502,200.00. Following the acquisition, the chief executive officer now owns 432,948 shares in the company, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. Insiders own 16.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in 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 acquiring an additional 19,944 shares during the period. ProShare Advisors LLC increased its stake in 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 acquiring an additional 2,905 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in DDR Corp. in the first quarter valued at about $3,509,000. Canada Pension Plan Investment Board increased its stake in DDR Corp. by 111.6% in the first quarter. Canada Pension Plan Investment Board now owns 69,200 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 36,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in DDR Corp. by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,405 shares of the real estate investment trust’s stock valued at $594,000 after acquiring an additional 269 shares during the period. Institutional investors own 80.03% 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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