DDR Corp. (DDR) Downgraded by Boenning Scattergood to Neutral
DDR has been the topic of several other reports. Mizuho cut DDR Corp. from a neutral rating to an underperform rating and reduced their price objective for the stock from $19.00 to $17.00 in a research note on Monday, July 11th. Bank of America Corp. lowered DDR Corp. from a buy rating to a neutral rating in a research report on Monday, July 11th. Zacks Investment Research upgraded DDR Corp. from a hold rating to a buy rating and set a $20.00 target price for the company in a research report on Monday, October 3rd. KeyCorp set a $21.00 target price on DDR Corp. and gave the company a buy rating in a research report on Thursday, October 6th. Finally, Jefferies Group restated a hold rating on shares of DDR Corp. in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. DDR Corp. currently has a consensus rating of Hold and a consensus target price of $19.04.
DDR Corp. (NYSE:DDR) traded down 0.79% on Tuesday, reaching $16.24. The company had a trading volume of 245,730 shares. The stock’s 50-day moving average is $17.56 and its 200-day moving average is $17.98. The company has a market capitalization of $5.93 billion, a P/E ratio of 27.25 and a beta of 1.00. DDR Corp. has a 52 week low of $15.36 and a 52 week high of $19.92.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The company had revenue of $245.90 million for the quarter, compared to analysts’ expectations of $243.03 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts forecast that DDR Corp. will post $1.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.64%. DDR Corp.’s dividend payout ratio is currently 126.67%.
In other news, Director Robert H. Gidel sold 16,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $19.50, for a total transaction of $312,000.00. Following the transaction, the director now directly owns 51,954 shares of the company’s stock, valued at $1,013,103. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Scott D. Roulston purchased 5,500 shares of DDR Corp. stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the transaction, the director now owns 18,723 shares of the company’s stock, valued at approximately $348,435.03. The disclosure for this purchase can be found here. Company insiders own 16.20% of the company’s stock.
Several institutional investors have recently modified their holdings of DDR. Nisa Investment Advisors LLC increased its position in shares of DDR Corp. by 25.8% in the third quarter. Nisa Investment Advisors LLC now owns 69,760 shares of the real estate investment trust’s stock worth $1,216,000 after buying an additional 14,300 shares during the last quarter. Pensionfund Sabic purchased a new position in DDR Corp. during the third quarter valued at about $732,000. Pensionfund DSM Netherlands purchased a new position in DDR Corp. during the third quarter valued at about $1,917,000. Royal Bank of Canada increased its position in DDR Corp. by 367.8% in the second quarter. Royal Bank of Canada now owns 60,410 shares of the real estate investment trust’s stock valued at $1,095,000 after buying an additional 47,495 shares during the last quarter. Finally, Calvert Investment Management Inc. purchased a new position in DDR Corp. during the second quarter valued at about $11,352,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
DDR Corp. Company Profile
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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