FY2017 Earnings Estimate for DDR Corp. Issued By SunTrust Banks (DDR)
DDR Corp. (NYSE:DDR) – Research analysts at SunTrust Banks boosted their FY2017 earnings estimates for shares of DDR Corp. in a report released on Sunday. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $1.14 per share for the year, up from their prior estimate of $1.13. SunTrust Banks also issued estimates for DDR Corp.’s FY2019 earnings at $0.91 EPS, FY2020 earnings at $0.96 EPS and FY2021 earnings at $1.03 EPS.
DDR Corp. (NYSE:DDR) last released 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 firm had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS.
DDR has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price objective on shares of DDR Corp. in a report on Friday, May 26th. BidaskClub raised DDR Corp. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Boenning Scattergood reissued a “hold” rating on shares of DDR Corp. in a report on Thursday, July 27th. Zacks Investment Research lowered DDR Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, ValuEngine lowered DDR Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. DDR Corp. currently has a consensus rating of “Hold” and a consensus price target of $14.00.
DDR Corp. (DDR) opened at 9.85 on Tuesday. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $17.96. The company’s 50-day moving average price is $9.91 and its 200-day moving average price is $10.44. The stock’s market cap is $3.61 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date of this dividend is Monday, September 25th. DDR Corp.’s dividend payout ratio (DPR) is -379.98%.
In other DDR Corp. news, Director Terrance R. Ahern acquired 59,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average cost of $8.47 per share, with a total value of $499,730.00. Following the acquisition, the director now directly owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David R. Lukes acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average cost of $8.37 per share, with a total value of $502,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 432,948 shares in the company, valued at $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 stake in DDR Corp. in the second quarter worth approximately $100,000. Cutter & CO Brokerage Inc. acquired a new stake in DDR Corp. in the second quarter worth approximately $104,000. Cambridge Investment Research Advisors Inc. acquired a new stake in DDR Corp. in the second quarter worth approximately $111,000. Janney Montgomery Scott LLC acquired a new stake in DDR Corp. in the second quarter worth approximately $121,000. Finally, Greenleaf Trust acquired a new stake in DDR Corp. in the second quarter worth approximately $123,000. Hedge funds and other institutional investors own 80.24% 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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