DDR Corp. (DDR) To Go Ex-Dividend on September 25th
DDR Corp. (NYSE:DDR) announced a quarterly dividend on Wednesday, September 13th, RTT News reports. Investors of record on Tuesday, September 26th will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 8.18%. The ex-dividend date of this dividend is Monday, September 25th.
DDR Corp. has increased its dividend payment by an average of 12.2% per year over the last three years and has raised its dividend every year for the last 6 years. DDR Corp. has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Analysts expect DDR Corp. to earn $0.01 per share next year, which means the company may not be able to cover its $0.76 annual dividend with an expected future payout ratio of 7,600.0%.
Shares of DDR Corp. (NYSE DDR) opened at 9.29 on Friday. The company’s market capitalization is $3.41 billion. DDR Corp. has a 12 month low of $8.11 and a 12 month high of $17.96. The company’s 50 day moving average price is $9.89 and its 200 day moving average price is $10.40.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.22). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. DDR Corp.’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Analysts expect that DDR Corp. will post ($0.12) EPS for the current fiscal year.
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DDR has been the subject of several research analyst reports. KeyCorp reissued a “buy” rating and set a $13.00 price objective on shares of DDR Corp. in a research note on Friday, September 1st. BidaskClub raised DDR Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine lowered DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Deutsche Bank AG raised DDR Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Thursday, July 27th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $12.00 price objective (down previously from $14.50) on shares of DDR Corp. in a research note on Wednesday, June 28th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. DDR Corp. presently has an average rating of “Hold” and a consensus target price of $14.00.
DDR Corp. Company Profile
DDR Corp. is a self-administered and self-managed real estate investment trust. It operates through two segments: shopping centers and loan investments. It is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. As of December 31, 2016, it owned and managed approximately 106 million total square feet of gross leasable area (GLA).
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