Boenning Scattergood Reiterates Hold Rating for DDR Corp. (DDR)
Boenning Scattergood reissued their hold rating on shares of DDR Corp. (NYSE:DDR) in a research report sent to investors on Thursday morning. Boenning Scattergood also issued estimates for DDR Corp.’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.26 EPS and FY2018 earnings at $1.07 EPS.
Other research analysts also recently issued reports about the company. Deutsche Bank AG raised DDR Corp. from a hold rating to a buy rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Thursday. Citigroup Inc. cut their price objective on DDR Corp. from $16.50 to $13.00 and set a buy rating on the stock in a research note on Tuesday, May 9th. TheStreet lowered DDR Corp. from a c- rating to a d+ rating in a report on Thursday, May 18th. Jefferies Group LLC reaffirmed a hold rating and issued a $9.00 target price on shares of DDR Corp. in a report on Tuesday, June 20th. Finally, ValuEngine lowered DDR Corp. from a buy rating to a hold rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.32.
DDR Corp. (DDR) opened at 10.18 on Thursday. The stock’s 50 day moving average price is $9.29 and its 200 day moving average price is $11.73. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.92. The stock’s market capitalization is $3.74 billion.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Zacks’ 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 1.22%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $222.90 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. Equities research analysts forecast that DDR Corp. will post ($0.15) earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Tuesday, June 13th. DDR Corp.’s payout ratio is presently -379.98%.
In other news, COO Michael Makinen acquired 11,325 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $8.83 per share, with a total value of $99,999.75. Following the acquisition, the chief operating officer now owns 66,361 shares of the company’s stock, valued at $585,967.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Louis Ostrower acquired 53,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average cost of $9.46 per share, for a total transaction of $501,380.00. Following the acquisition, the chief financial officer now directly owns 108,036 shares in the company, valued at approximately $1,022,020.56. The disclosure for this purchase can be found here. Insiders have bought a total of 1,355,325 shares of company stock worth $12,692,310 in the last three months. 16.20% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of DDR Corp. during the second quarter valued at $121,000. Greenleaf Trust purchased a new stake in shares of DDR Corp. during the second quarter valued at $123,000. Parametrica Management Ltd purchased a new stake in shares of DDR Corp. during the second quarter valued at $127,000. Oxford Asset Management purchased a new stake in shares of DDR Corp. during the first quarter valued at $163,000. Finally, CrestPoint Capital Management LLC purchased a new stake in shares of DDR Corp. during the first quarter valued at $165,000. 82.76% of the stock is currently owned by institutional investors.
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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