DDR Corp. (NYSE:DDR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of DDR Corp. (NYSE:DDR) from a buy rating to a hold rating in a research report sent to investors on Wednesday, November 8th.

According to Zacks, “Shares of DDR Corp. underperformed its industry year to date. Nonetheless, its third-quarter 2017 funds from operations (FFO) per share of 30 cents surpassed the Zacks Consensus Estimate of 27 cents. Results indicate higher-than-expected business in the company’s Continental U.S. portfolio. Going forward, the company is likely to benefit from its diversified portfolio in upscale locations and presence of well-capitalized tenants on its roster. In addition to this, aggressive capital-recycling program, balance-sheet improvement efforts, improved liquidity and maturity schedule are likely to drive its growth over the long term. Nevertheless, the choppy retail real estate environment remains a concern. Further, aggressive asset divestures have a dilutive effect on earnings. Rate hike add to the company’s woes.”

Other analysts also recently issued reports about the company. ValuEngine raised DDR from a hold rating to a buy rating in a report on Monday, October 2nd. Boenning Scattergood downgraded DDR from a neutral rating to an under perform rating in a report on Tuesday, October 3rd. SunTrust Banks, Inc. reaffirmed a hold rating and set a $10.00 price target on shares of DDR in a report on Friday, November 3rd. Royal Bank Of Canada reaffirmed a sector perform rating and set a $9.00 price target (down from $11.00) on shares of DDR in a report on Tuesday, November 7th. Finally, Deutsche Bank AG raised DDR from a hold rating to a buy rating and lifted their price target for the stock from $12.00 to $13.00 in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $12.04.

DDR (NYSE:DDR) traded down $0.18 on Wednesday, reaching $7.78. The company had a trading volume of 2,562,382 shares, compared to its average volume of 5,036,580. DDR has a 1 year low of $7.55 and a 1 year high of $15.82. The firm has a market cap of $2,860.00, a PE ratio of 6.63, a price-to-earnings-growth ratio of 1.39 and a beta of 0.76. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.61 and a quick ratio of 0.61.

DDR (NYSE:DDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. DDR had a return on equity of 3.48% and a net margin of 1.11%. The firm had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $218.58 million. During the same period in the previous year, the firm posted $0.33 EPS. DDR’s revenue for the quarter was down 10.2% on a year-over-year basis. equities research analysts anticipate that DDR will post 1.14 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Monday, December 11th. DDR’s payout ratio is currently -165.22%.

Institutional investors have recently bought and sold shares of the company. Sigma Planning Corp purchased a new stake in shares of DDR in the 2nd quarter valued at about $100,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of DDR in the 2nd quarter valued at about $104,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of DDR in the 2nd quarter valued at about $111,000. Janney Montgomery Scott LLC purchased a new stake in shares of DDR in the 2nd quarter valued at about $121,000. Finally, Greenleaf Trust purchased a new stake in shares of DDR in the 2nd quarter valued at about $123,000. 81.29% of the stock is owned by institutional investors and hedge funds.

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About DDR

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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