DDR Corp. (DDR) Sets New 1-Year High at $19.17
Shares of DDR Corp. (NYSE:DDR) hit a new 52-week high on Monday . The stock traded as high as $19.17 and last traded at $19.15, with a volume of 6,941,852 shares traded. The stock had previously closed at $18.68.
Several analysts have recently weighed in on DDR shares. Mizuho began coverage on DDR Corp. in a report on Wednesday, April 13th. They set a “neutral” rating and a $19.00 price objective on the stock. Credit Suisse Group AG began coverage on DDR Corp. in a research note on Wednesday, March 16th. They issued an “outperform” rating and a $18.50 price target on the stock. Jefferies Group began coverage on DDR Corp. in a research note on Thursday, June 30th. They issued a “hold” rating and a $19.00 price target on the stock. KeyCorp raised DDR Corp. from a “sector weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Friday, April 15th. Finally, Bank of America Corp. lowered DDR Corp. from a “buy” rating to a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.81.
The firm has a 50 day moving average price of $17.58 and a 200-day moving average price of $17.16. The stock has a market capitalization of $6.99 billion and a P/E ratio of 36.36.
DDR Corp. (NYSE:DDR) last announced its earnings results on Thursday, April 28th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $246.30 million for the quarter, compared to the consensus estimate of $244.26 million. DDR Corp.’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Analysts forecast that DDR Corp. will post $1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Thursday, June 9th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Tuesday, June 7th.
In related news, VP Christa A. Vesy sold 5,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $17.38, for a total transaction of $86,900.00. Following the sale, the vice president now owns 89,506 shares of the company’s stock, valued at $1,555,614.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul W. Freddo sold 28,939 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $18.00, for a total value of $520,902.00. Following the completion of the sale, the vice president now directly owns 211,053 shares in the company, valued at approximately $3,798,954. The disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of DDR Corp. by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 43,681,552 shares of the real estate investment trust’s stock worth $735,598,000 after buying an additional 1,036,252 shares in the last quarter. Green Street Investors LLC acquired a new stake in shares of DDR Corp. during the fourth quarter worth $2,768,000. ProShare Advisors LLC increased its stake in shares of 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 in the last quarter. California State Teachers Retirement System increased its stake in shares of DDR Corp. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 579,113 shares of the real estate investment trust’s stock worth $9,752,000 after buying an additional 8,786 shares in the last quarter. Finally, Stevens Capital Management LP increased its stake in shares of 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 in 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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