Zacks Investment Research upgraded shares of DDR Corp. (NYSE:DDR) from a hold rating to a buy rating in a report released on Monday. They currently have $20.00 price objective on the real estate investment trust’s stock.
According to Zacks, “DDR’s well-diversified portfolio, concentrated mostly in prosperous regions, helps in generating relatively steady revenues. Further, the presence of well-capitalized tenants in its roster and long-term lease agreements with the tenants keep its growth momentum going. Also, aggressive capital recycling program and economic recovery, bode well for the long term. However, stiff competition, increasing online sales and any rise in interest rate remain as concerns.”
A number of other analysts have also recently issued reports on the company. Bank of America Corp. cut DDR Corp. from a buy rating to a neutral rating in a report on Monday, July 11th. Jefferies Group reissued a hold rating on shares of DDR Corp. in a report on Tuesday, September 13th. Mizuho cut DDR Corp. from a neutral rating to an underperform rating and dropped their price objective for the stock from $19.00 to $17.00 in a report on Monday, July 11th. Citigroup Inc. increased their price objective on DDR Corp. from $18.50 to $20.00 and gave the stock a neutral rating in a report on Friday, August 12th. Finally, Raymond James Financial Inc. initiated coverage on DDR Corp. in a report on Monday, July 25th. They set an outperform rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $18.88.
DDR Corp. (NYSE:DDR) opened at 16.90 on Monday. DDR Corp. has a one year low of $15.36 and a one year high of $19.92. The firm’s 50-day moving average price is $18.22 and its 200 day moving average price is $18.04. The firm has a market capitalization of $6.17 billion, a P/E ratio of 28.36 and a beta of 1.00.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $245.90 million for the quarter, compared to analysts’ expectations of $243.03 million. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities analysts anticipate that DDR Corp. will post $1.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.49%. DDR Corp.’s dividend payout ratio (DPR) is presently 126.67%.
In related news, Director Scott D. Roulston purchased 5,500 shares of DDR Corp. stock in a transaction that occurred on Tuesday, August 23rd. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the transaction, the director now directly owns 18,723 shares in the company, valued at $348,435.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Gidel sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $19.50, for a total value of $312,000.00. Following the transaction, the director now owns 51,954 shares in the company, valued at $1,013,103. The disclosure for this sale can be found here. Insiders own 16.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC raised its position in DDR Corp. by 5.6% in the first quarter. Aperio Group LLC now owns 87,049 shares of the real estate investment trust’s stock valued at $1,549,000 after buying an additional 4,654 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in DDR Corp. by 65.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 55,460 shares of the real estate investment trust’s stock valued at $987,000 after buying an additional 22,000 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in DDR Corp. by 1.0% in the first quarter. TIAA CREF Investment Management LLC now owns 644,216 shares of the real estate investment trust’s stock valued at $11,461,000 after buying an additional 6,459 shares during the last quarter. Teachers Advisors Inc. raised its position in DDR Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 2,368,706 shares of the real estate investment trust’s stock valued at $42,139,000 after buying an additional 55,154 shares during the last quarter. Finally, BlackRock Inc. raised its position in DDR Corp. by 57.5% in the first quarter. BlackRock Inc. now owns 430,751 shares of the real estate investment trust’s stock valued at $7,663,000 after buying an additional 157,193 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.
About DDR Corp.
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.
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