DDR Corp. (DDR) Sees Large Volume Increase
DDR Corp. (NYSE:DDR) shares saw unusually-high trading volume on Thursday . Approximately 3,781,119 shares traded hands during mid-day 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.
DDR has been the topic of several recent research reports. 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 price target on the stock. KeyCorp upgraded shares of DDR Corp. from a “sector weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research report on Friday, April 15th. Canaccord Genuity reiterated a “hold” rating on shares of DDR Corp. in a research report on Monday, July 11th. Deutsche Bank AG reiterated a “hold” rating and set a $17.00 price objective on shares of DDR Corp. in a research report on Tuesday, May 3rd. Finally, Mizuho started coverage on shares of DDR Corp. in a research report on Wednesday, April 13th. They set a “neutral” rating and a $19.00 price objective on the stock. One 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.81.
The stock’s 50 day moving average is $17.90 and its 200-day moving average is $17.25. The firm has a market capitalization of $6.99 billion and a price-to-earnings ratio of 36.38.
DDR Corp. (NYSE:DDR) last posted its earnings results on Thursday, April 28th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm earned $246.30 million during the quarter, compared to analyst estimates of $244.26 million. During the same quarter last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that DDR Corp. will post $1.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 9th were issued a $0.19 dividend. The ex-dividend date was Tuesday, June 7th. This represents a $0.76 annualized dividend and a yield of 3.96%.
In other DDR Corp. news, VP Christa A. Vesy sold 5,000 shares of the 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 $1,555,614.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul W. Freddo sold 28,939 shares of the 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.
Other large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 valued at $735,598,000 after buying an additional 1,036,252 shares during the period. Standard Life Investments LTD purchased a new stake in DDR Corp. during the fourth quarter valued at $12,513,000. Green Street Investors LLC purchased a new stake in DDR Corp. during the fourth quarter valued at $2,768,000. Morgan Stanley raised its stake in DDR Corp. by 2.2% in the fourth quarter. Morgan Stanley now owns 3,308,165 shares of the real estate investment trust’s stock valued at $55,709,000 after buying an additional 72,747 shares during the period. Finally, Stevens Capital Management LP raised its stake 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 valued at $2,316,000 after buying an additional 70,811 shares during the period.
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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