DDR Corp. (DDR) Reaches New 1-Year High at $19.86
DDR Corp. (NYSE:DDR)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $19.86 and last traded at $19.75, with a volume of 1,173,876 shares changing hands. The stock had previously closed at $19.49.
Several equities analysts have recently commented on DDR shares. Bank of America Corp. cut shares of DDR Corp. from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Mizuho cut shares of DDR Corp. from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $19.00 to $17.00 in a report on Monday, July 11th. Raymond James Financial Inc. started coverage on shares of DDR Corp. in a report on Monday. They set an “outperform” rating and a $21.00 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 target on the stock in a report on Friday, April 15th. Finally, Deutsche Bank AG boosted their price target on shares of DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. DDR Corp. currently has an average rating of “Hold” and a consensus target price of $18.15.
The company has a market cap of $7.21 billion and a P/E ratio of 33.46. The stock has a 50-day moving average of $18.42 and a 200-day moving average of $17.42.
DDR Corp. (NYSE:DDR) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. During the same period last year, the business posted $0.31 EPS. The business earned $245.90 million during the quarter, compared to the consensus estimate of $243.03 million. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts forecast that DDR Corp. will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Thursday, June 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Tuesday, June 7th.
In related news, 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 transaction, the vice president now owns 211,053 shares of the company’s stock, valued at $3,798,954. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christa A. Vesy sold 5,000 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $17.38, for a total transaction of $86,900.00. Following the completion of the transaction, the vice president now directly owns 89,506 shares of the company’s stock, valued at approximately $1,555,614.28. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. I.G. Investment Management LTD. increased its position 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 during the period. First Trust Advisors LP increased its position 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 worth $1,993,000 after buying an additional 6,967 shares during the period. Rhumbline Advisers increased its position 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 worth $3,769,000 after buying an additional 1,895 shares during the period. Wells Fargo & Company MN increased its position 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 worth $8,997,000 after buying an additional 46,417 shares during the period. Finally, Standard Life Investments LTD acquired a new position in DDR Corp. during the fourth quarter worth $12,513,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.