Zacks Investment Research lowered shares of DDR Corp. (NYSE:DDR) from a buy rating to a hold rating in a research note issued 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.”
DDR has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed a sector perform rating and set a $9.00 price target (down from $11.00) on shares of DDR Corp. in a research report on Tuesday, November 7th. Mizuho reiterated a hold rating and set a $10.00 price objective on shares of DDR Corp. in a research note on Monday, October 9th. Boenning Scattergood reiterated a hold rating on shares of DDR Corp. in a research note on Thursday, July 27th. ValuEngine upgraded shares of DDR Corp. from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $10.00 price objective on shares of DDR Corp. in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. DDR Corp. has an average rating of Hold and a consensus target price of $12.04.
Shares of DDR Corp. (NYSE DDR) opened at $8.08 on Wednesday. DDR Corp. has a 12 month low of $7.55 and a 12 month high of $15.82. The stock has a market cap of $3,050.89, a PE ratio of 6.90, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51.
DDR Corp. (NYSE:DDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. The business had revenue of $220.10 million for the quarter, compared to analysts’ expectations of $218.58 million. DDR Corp. had a net margin of 1.11% and a return on equity of 3.48%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. sell-side analysts predict that DDR Corp. will post 1.14 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Tuesday, December 12th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.41%. The ex-dividend date is Monday, December 11th. DDR Corp.’s payout ratio is currently -1,900.00%.
A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in DDR Corp. in the third quarter worth about $151,000. Americafirst Capital Management LLC acquired a new stake in DDR Corp. in the 3rd quarter valued at about $650,000. California Public Employees Retirement System lifted its holdings in DDR Corp. by 9.3% in the 3rd quarter. California Public Employees Retirement System now owns 882,706 shares of the real estate investment trust’s stock valued at $8,086,000 after acquiring an additional 75,048 shares during the last quarter. Highbridge Capital Management LLC lifted its holdings in DDR Corp. by 153.1% in the 3rd quarter. Highbridge Capital Management LLC now owns 302,670 shares of the real estate investment trust’s stock valued at $2,772,000 after acquiring an additional 183,075 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in DDR Corp. by 54.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 6,869,698 shares of the real estate investment trust’s stock valued at $62,926,000 after acquiring an additional 2,429,890 shares during the last quarter. 81.29% of the stock is owned by institutional investors and hedge funds.
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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