DDR Corp. (DDR) Cut to Under Perform at Boenning Scattergood
Boenning Scattergood lowered shares of DDR Corp. (NYSE:DDR) from a neutral rating to an under perform rating in a report released on Tuesday, Marketbeat.com reports.
Other analysts have also issued research reports about the stock. KeyCorp reaffirmed a buy rating and set a $13.00 price target on shares of DDR Corp. in a research report on Friday, September 1st. BidaskClub raised shares of DDR Corp. from a sell rating to a hold rating in a research report on Wednesday, July 19th. Deutsche Bank AG raised shares of DDR Corp. from a hold rating to a buy rating and lifted their price target for the company from $12.00 to $13.00 in a research report on Thursday, July 27th. ValuEngine lowered shares of DDR Corp. from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co reaffirmed a neutral rating and set a $12.00 price target (down previously from $14.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of Hold and an average price target of $13.23.
Shares of DDR Corp. (NYSE DDR) traded down 2.896% during midday trading on Tuesday, reaching $8.885. The company’s stock had a trading volume of 4,906,170 shares. The stock’s market capitalization is $3.26 billion. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $16.78. The company has a 50 day moving average price of $9.63 and a 200-day moving average price of $10.09.
DDR Corp. (NYSE:DDR) last released its earnings results 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 positive return on equity of 1.24% and a negative net margin of 5.48%. The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $222.90 million. During the same period last year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that DDR Corp. will post ($0.12) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.31%. DDR Corp.’s payout ratio is currently -379.98%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brookfield Asset Management Inc. lifted its position in DDR Corp. by 312.0% in the second quarter. Brookfield Asset Management Inc. now owns 8,181,400 shares of the real estate investment trust’s stock valued at $74,205,000 after acquiring an additional 6,195,700 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in DDR Corp. in the second quarter valued at $131,000. Piedmont Investment Advisors LLC purchased a new stake in DDR Corp. in the second quarter valued at $1,201,000. Nomura Holdings Inc. lifted its position in DDR Corp. by 163.2% in the second quarter. Nomura Holdings Inc. now owns 68,441 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 42,441 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in DDR Corp. by 24.9% in the second quarter. The Manufacturers Life Insurance Company now owns 23,930 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 4,768 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other 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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