DDR Corp. (DDR) Hits New 52-Week High at $18.73
DDR Corp. (NYSE:DDR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.73 and last traded at $18.71, with a volume of 1,654,529 shares changing hands. The stock had previously closed at $18.41.
A number of brokerages have recently issued reports on DDR. Mizuho began coverage on shares of DDR Corp. in a research note on Wednesday, April 13th. They issued a “neutral” rating and a $19.00 target price on the stock. Deutsche Bank AG restated a “hold” rating and issued a $17.00 target price on shares of DDR Corp. in a research note on Tuesday, May 3rd. Credit Suisse Group AG began coverage on shares of DDR Corp. in a research note on Wednesday, March 16th. They issued an “outperform” rating and a $18.50 target price on the stock. KeyCorp upgraded shares of DDR Corp. from a “sector weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a research note on Friday, April 15th. Finally, Jefferies Group started coverage on shares of DDR Corp. in a research note on Thursday, June 30th. They set a “hold” rating and a $19.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. DDR Corp. presently has a consensus rating of “Hold” and a consensus price target of $17.96.
The company has a market capitalization of $6.80 billion and a price-to-earnings ratio of 35.37. The stock’s 50-day moving average is $17.48 and its 200-day moving average is $17.14.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The company earned $246.30 million during the quarter, compared to analyst estimates of $244.26 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that DDR Corp. will post $1.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 9th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $0.76 annualized dividend and a yield of 4.08%.
In other DDR Corp. news, VP Christa A. Vesy sold 5,000 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $17.38, for a total value of $86,900.00. Following the sale, the vice president now directly owns 89,506 shares in the company, valued at approximately $1,555,614.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul W. Freddo sold 28,939 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $18.00, for a total transaction of $520,902.00. Following the completion of the sale, the vice president now owns 211,053 shares in the company, valued at $3,798,954. The disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of DDR. I.G. Investment Management LTD. raised its stake in DDR Corp. by 11.6% in the fourth quarter. I.G. Investment Management LTD. now owns 72,328 shares of the real estate investment trust’s stock valued at $1,218,000 after buying an additional 7,541 shares in the last quarter. ProShare Advisors LLC increased its position in DDR Corp. by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 109,910 shares of the real estate investment trust’s stock worth $1,851,000 after buying an additional 11,678 shares during the last quarter. First Trust Advisors LP increased its position in DDR Corp. by 6.3% in the fourth quarter. First Trust Advisors LP now owns 118,325 shares of the real estate investment trust’s stock worth $1,993,000 after buying an additional 6,967 shares during the last quarter. Stevens Capital Management LP increased its position in DDR Corp. by 106.1% in the fourth quarter. Stevens Capital Management LP now owns 137,522 shares of the real estate investment trust’s stock worth $2,316,000 after buying an additional 70,811 shares during the last quarter. Finally, Janus Capital Management increased its position in DDR Corp. by 50.5% in the third quarter. Janus Capital Management now owns 165,525 shares of the real estate investment trust’s stock worth $2,546,000 after buying an additional 55,557 shares during the last quarter.
DDR Corp. (DDR) is a self-administered and self-managed real estate investment trust (REIT). The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, the Company 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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