DDR Corp. (NYSE:DDR) – Research analysts at SunTrust Banks raised their FY2017 EPS estimates for DDR Corp. in a research note issued on Sunday. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings per share of $1.14 for the year, up from their previous estimate of $1.13. SunTrust Banks also issued estimates for DDR Corp.’s FY2019 earnings at $0.91 EPS, FY2020 earnings at $0.96 EPS and FY2021 earnings at $1.03 EPS.
Other research analysts have also recently issued reports about the company. 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 report on Thursday, July 27th. KeyCorp reissued a “buy” rating and issued a $13.00 price target on shares of DDR Corp. in a report on Friday, September 1st. ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research raised DDR Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Boenning Scattergood reissued a “hold” rating on shares of DDR Corp. in a report on Thursday, July 27th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.00.
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Shares of DDR Corp. (NYSE:DDR) opened at 9.33 on Tuesday. The company’s market capitalization is $3.42 billion. DDR Corp. has a 12 month low of $8.11 and a 12 month high of $17.96. The stock’s 50 day moving average price is $9.89 and its 200 day moving average price is $10.40.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.22). DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 8.15%. The ex-dividend date is Monday, September 25th. DDR Corp.’s payout ratio is -379.98%.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in DDR Corp. by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 48,474,427 shares of the real estate investment trust’s stock worth $607,386,000 after acquiring an additional 1,163,740 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in DDR Corp. by 26.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock worth $266,566,000 after acquiring an additional 6,219,488 shares during the last quarter. BlackRock Inc. increased its stake in DDR Corp. by 7.5% in the 2nd quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock worth $201,598,000 after acquiring an additional 1,545,615 shares during the last quarter. Bank of New York Mellon Corp increased its stake in DDR Corp. by 18.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,664,559 shares of the real estate investment trust’s stock worth $87,658,000 after acquiring an additional 1,521,023 shares during the last quarter. Finally, State Street Corp increased its stake in DDR Corp. by 0.4% in the 2nd quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock worth $87,284,000 after acquiring an additional 36,430 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.
About DDR Corp.
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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