DDR Corp. (DDR) Reaches New 12-Month High at $19.47
DDR Corp. (NYSE:DDR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.47 and last traded at $19.45, with a volume of 1,999,050 shares changing hands. The stock had previously closed at $19.36.
DDR has been the topic of several research analyst reports. Deutsche Bank AG lifted their price target on DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday. Jefferies Group assumed coverage on DDR Corp. in a research report on Thursday, June 30th. They set 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 objective for the company in a research note on Friday, April 15th. Canaccord Genuity reissued a “hold” rating on shares of DDR Corp. in a research note on Monday, July 11th. Finally, Mizuho assumed coverage on DDR Corp. in a research note on Wednesday, April 13th. They set a “neutral” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. DDR Corp. currently has an average rating of “Hold” and a consensus target price of $17.88.
The stock’s 50 day moving average price is $17.99 and its 200-day moving average price is $17.28. The stock has a market capitalization of $7.12 billion and a PE ratio of 37.06.
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 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. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. Equities analysts forecast that DDR Corp. will post $1.24 EPS for the current year.
The business also recently announced 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 dividend on an annualized basis and a yield of 3.93%.
In other DDR Corp. news, VP Christa A. Vesy sold 5,000 shares of the firm’s stock in a transaction that occurred 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 owns 89,506 shares in the company, valued at $1,555,614.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul W. Freddo sold 28,939 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were 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 approximately $3,798,954. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of DDR. I.G. Investment Management LTD. raised its stake in shares of 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 raised 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. First Trust Advisors LP raised its stake 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 in the last quarter. Green Street Investors LLC bought a new stake in shares of DDR Corp. during the fourth quarter worth $2,768,000. Finally, Rhumbline Advisers raised its stake in shares of DDR Corp. by 0.9% in the fourth quarter. Rhumbline Advisers now owns 223,804 shares of the real estate investment trust’s stock worth $3,769,000 after buying an additional 1,895 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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