DDR Corp. (DDR) Expected to Post Quarterly Sales of $223.22 Million
Equities research analysts expect that DDR Corp. (NYSE:DDR) will announce $223.22 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for DDR Corp.’s earnings, with the lowest sales estimate coming in at $213.74 million and the highest estimate coming in at $232.50 million. DDR Corp. reported sales of $245.24 million during the same quarter last year, which would suggest a negative year over year growth rate of 9%. The firm is expected to announce its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that DDR Corp. will report full-year sales of $223.22 million for the current financial year, with estimates ranging from $878.95 million to $939.41 million. For the next fiscal year, analysts anticipate that the firm will report sales of $854.53 million per share, with estimates ranging from $757.00 million to $971.26 million. Zacks’ sales averages are an average based on a survey of research firms that cover DDR Corp..
DDR Corp. (NYSE:DDR) last announced its quarterly earnings data 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. 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 the consensus estimate of $222.90 million. During the same period in the previous year, the business posted $0.33 earnings per share. DDR Corp.’s revenue was down 7.5% compared to the same quarter last year.
A number of equities research analysts have recently commented on the stock. ValuEngine lowered shares of DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and issued a $13.00 price objective on shares of DDR Corp. in a research note on Friday, September 1st. Zacks Investment Research raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of DDR Corp. in a research note on Thursday, July 27th. Finally, Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $12.00 to $13.00 in a research note on Thursday, July 27th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.00.
In other DDR Corp. news, Director Terrance R. Ahern acquired 59,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were purchased at an average price of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the acquisition, the director now owns 323,060 shares in the company, valued at approximately $2,736,318.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David R. Lukes acquired 60,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were acquired 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 of the company’s stock, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sigma Planning Corp acquired a new position in DDR Corp. during the second quarter worth $100,000. Cutter & CO Brokerage Inc. acquired a new position in DDR Corp. during the second quarter worth $104,000. Cambridge Investment Research Advisors Inc. acquired a new position in DDR Corp. during the second quarter worth $111,000. Oxford Asset Management acquired a new position in DDR Corp. during the first quarter worth $163,000. Finally, Koch Industries Inc. acquired a new position in DDR Corp. during the first quarter worth $165,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
DDR Corp. (NYSE:DDR) opened at 9.87 on Friday. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $18.38. The company’s market capitalization is $3.62 billion. The firm has a 50-day moving average of $9.92 and a 200-day moving average of $10.69.
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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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