DDR Corp. (DDR) Hits New 1-Year High at $19.17
DDR Corp. (NYSE:DDR)’s share price reached 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 trading hands. The stock had previously closed at $18.68.
Several equities analysts have weighed in on DDR shares. Bank of America Corp. lowered shares of DDR Corp. from a “buy” rating to a “neutral” rating in a report on Monday. Credit Suisse Group AG started coverage on shares of DDR Corp. in a report on Wednesday, March 16th. They issued an “outperform” rating and a $18.50 target price on the stock. Mizuho lowered shares of DDR Corp. from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $19.00 to $17.00 in a report on Monday. 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 report on Friday, April 15th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of DDR Corp. in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.81.
The stock has a market capitalization of $6.98 billion and a P/E ratio of 36.34. The company has a 50-day moving average of $17.71 and a 200-day moving average of $17.20.
DDR Corp. (NYSE:DDR) last released 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 Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $246.30 million for the quarter, compared to analyst estimates of $244.26 million. DDR Corp.’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. On average, equities analysts forecast that DDR Corp. will post $1.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 9th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $0.76 annualized dividend and a dividend yield of 3.97%.
In other DDR Corp. news, VP Christa A. Vesy sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $17.38, for a total transaction of $86,900.00. Following the sale, the vice president now directly owns 89,506 shares of the company’s stock, valued at approximately $1,555,614.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul W. Freddo sold 28,939 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $18.00, for a total transaction of $520,902.00. Following the sale, the vice president now directly owns 211,053 shares in the company, valued at $3,798,954. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in DDR Corp. by 0.9% in the fourth quarter. Rhumbline Advisers now owns 223,804 shares of the real estate investment trust’s stock valued at $3,769,000 after buying an additional 1,895 shares in the last quarter. First Trust Advisors LP boosted its stake 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 valued at $1,993,000 after buying an additional 6,967 shares in the last quarter. I.G. Investment Management LTD. boosted 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 boosted its stake 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 valued at $1,851,000 after buying an additional 11,678 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in DDR Corp. by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 534,287 shares of the real estate investment trust’s stock valued at $8,997,000 after buying an additional 46,417 shares in the last quarter.
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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