Several other equities research analysts also recently weighed in on DDR. Jefferies Group started coverage on shares of DDR Corp. in a research report on Thursday, June 30th. They issued a hold rating and a $19.00 target price for the company. Mizuho downgraded shares of DDR Corp. from a neutral rating to an underperform rating and dropped their target price for the stock from $19.00 to $17.00 in a research report on Monday, July 11th. Bank of America Corp. downgraded shares of DDR Corp. from a buy rating to a neutral rating in a research report on Monday, July 11th. Canaccord Genuity reissued a hold rating on shares of DDR Corp. in a research report on Monday, July 11th. Finally, Deutsche Bank AG boosted their target price on shares of DDR Corp. from $17.00 to $18.00 and gave the stock a hold rating in a research report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $19.04.
Shares of DDR Corp. (NYSE:DDR) opened at 16.32 on Thursday. DDR Corp. has a 12 month low of $15.36 and a 12 month high of $19.92. The firm has a market cap of $5.96 billion, a P/E ratio of 27.38 and a beta of 1.00. The company has a 50-day moving average of $17.86 and a 200-day moving average of $18.01.
DDR Corp. (NYSE:DDR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The firm had revenue of $245.90 million for the quarter, compared to the consensus estimate of $243.03 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that DDR Corp. will post $1.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Wednesday, September 21st. DDR Corp.’s dividend payout ratio is currently 126.67%.
In related news, Director Scott D. Roulston purchased 5,500 shares of DDR Corp. stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $18.61 per share, with a total value of $102,355.00. Following the purchase, the director now owns 18,723 shares in the company, valued at approximately $348,435.03. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert H. Gidel sold 16,000 shares of the company’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 transaction of $312,000.00. Following the completion of the sale, the director now directly owns 51,954 shares of the company’s stock, valued at $1,013,103. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of DDR. M&T Bank Corp raised its stake in shares of DDR Corp. by 2.2% in the first quarter. M&T Bank Corp now owns 88,551 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 1,934 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of DDR Corp. by 16.0% in the first quarter. Brookfield Asset Management Inc. now owns 852,900 shares of the real estate investment trust’s stock worth $15,173,000 after buying an additional 117,700 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of DDR Corp. by 56.8% in the first quarter. Landscape Capital Management L.L.C. now owns 158,531 shares of the real estate investment trust’s stock worth $2,820,000 after buying an additional 57,432 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of DDR Corp. during the first quarter worth $1,290,000. Finally, JPMorgan Chase & Co. raised its stake in shares of DDR Corp. by 547.6% in the first quarter. JPMorgan Chase & Co. now owns 1,425,034 shares of the real estate investment trust’s stock worth $25,353,000 after buying an additional 1,204,990 shares in the last quarter. 89.81% of the stock is owned by institutional investors.
DDR Corp. Company Profile
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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