DDR Corp. (DDR) Sees Unusually-High Trading Volume
Shares of DDR Corp. (NYSE:DDR) saw unusually-strong trading volume on Thursday . Approximately 3,781,119 shares changed hands during trading, a decline of 3% from the previous session’s volume of 3,897,659 shares.The stock last traded at $19.20 and had previously closed at $19.37.
A number of analysts have recently weighed in on DDR shares. Jefferies Group started coverage on shares of DDR Corp. in a report on Thursday, June 30th. They set a “hold” rating and a $19.00 price target for the company. KeyCorp raised shares of DDR Corp. from a “sector weight” rating to an “overweight” rating and set a $19.00 price target for the company in a report on Friday, April 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of DDR Corp. in a report on Monday. Deutsche Bank AG reaffirmed a “hold” rating and set a $17.00 price target on shares of DDR Corp. in a report on Tuesday, May 3rd. Finally, Mizuho started coverage on shares of DDR Corp. in a report on Wednesday, April 13th. They set a “neutral” rating and a $19.00 price target for the company. One 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 currently has an average rating of “Hold” and a consensus target price of $17.81.
The stock has a market capitalization of $7.00 billion and a P/E ratio of 36.43. The firm has a 50 day moving average of $17.84 and a 200-day moving average of $17.23.
DDR Corp. (NYSE:DDR) last released 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 business earned $246.30 million during the quarter, compared to analysts’ expectations of $244.26 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that DDR Corp. will post $1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Thursday, June 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Tuesday, June 7th.
In other news, VP Paul W. Freddo sold 28,939 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $18.00, for a total value of $520,902.00. Following the sale, the vice president now directly owns 211,053 shares of the company’s stock, valued at approximately $3,798,954. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christa A. Vesy sold 5,000 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $17.38, for a total transaction of $86,900.00. Following the completion of the sale, the vice president now directly owns 89,506 shares in the company, valued at $1,555,614.28. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in the company. I.G. Investment Management LTD. increased 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 worth $1,218,000 after buying an additional 7,541 shares in the last quarter. ProShare Advisors LLC boosted its position 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 during the last quarter. First Trust Advisors LP boosted its position in shares of 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 boosted its position 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 during the last quarter. Finally, Green Street Investors LLC purchased a new position in shares of DDR Corp. during the fourth quarter worth about $2,768,000.
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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