DDR Corp. (DDR) Expected to Announce Earnings of $0.28 Per Share
Equities analysts forecast that DDR Corp. (NYSE:DDR) will post earnings per share of $0.28 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for DDR Corp.’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.27. DDR Corp. posted earnings of $0.33 per share in the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that DDR Corp. will report full-year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.15. For the next year, analysts forecast that the business will report earnings of $1.06 per share, with EPS estimates ranging from $0.94 to $1.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for DDR Corp..
DDR Corp. (NYSE:DDR) last announced its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $230.98 million for the quarter, compared to analysts’ expectations of $230.91 million. DDR Corp. had a positive return on equity of 1.60% and a negative net margin of 4.17%. DDR Corp.’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share.
A number of analysts recently issued reports on the company. Canaccord Genuity decreased their price objective on DDR Corp. from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, February 24th. Zacks Investment Research lowered DDR Corp. from a “hold” rating to a “sell” rating in a research note on Monday, March 6th. Mizuho boosted their price objective on DDR Corp. to $15.00 and gave the company a “neutral” rating in a research note on Monday, March 6th. Morgan Stanley upgraded DDR Corp. from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock in a research note on Monday, March 6th. Finally, Evercore ISI upgraded DDR Corp. from a “hold” rating to an “outperform” rating in a research note on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. DDR Corp. presently has an average rating of “Hold” and an average target price of $16.21.
Shares of DDR Corp. (DDR) traded down 3.74% during mid-day trading on Thursday, reaching $9.02. The company had a trading volume of 8,586,766 shares. DDR Corp. has a one year low of $8.28 and a one year high of $19.92. The company’s market capitalization is $3.31 billion. The company has a 50 day moving average price of $9.34 and a 200 day moving average price of $12.94.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.43%. The ex-dividend date is Tuesday, June 13th. DDR Corp.’s dividend payout ratio (DPR) is presently -475.00%.
In related news, COO Michael Makinen bought 11,325 shares of the stock in a transaction dated Friday, June 2nd. The stock was bought at an average price of $8.83 per share, with a total value of $99,999.75. Following the purchase, the chief operating officer now owns 66,361 shares in the company, valued at approximately $585,967.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Otto bought 500,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was bought at an average cost of $9.52 per share, with a total value of $4,760,000.00. Following the purchase, the director now owns 44,509,893 shares in the company, valued at approximately $423,734,181.36. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,244,325 shares of company stock valued at $11,788,580. 16.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in DDR Corp. by 4,057.9% in the first quarter. BlackRock Inc. now owns 20,681,069 shares of the real estate investment trust’s stock worth $259,135,000 after buying an additional 20,183,679 shares during the period. Principal Financial Group Inc. raised its stake in DDR Corp. by 13,961.6% in the first quarter. Principal Financial Group Inc. now owns 5,743,758 shares of the real estate investment trust’s stock worth $71,970,000 after buying an additional 5,702,911 shares during the period. Goldman Sachs Group Inc. raised its stake in DDR Corp. by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock worth $290,325,000 after buying an additional 4,348,169 shares during the period. Morgan Stanley raised its stake in DDR Corp. by 189.5% in the first quarter. Morgan Stanley now owns 3,763,059 shares of the real estate investment trust’s stock worth $47,151,000 after buying an additional 2,463,134 shares during the period. Finally, Norges Bank bought a new stake in DDR Corp. during the fourth quarter worth $34,076,000. 83.46% of the stock is owned by institutional investors.
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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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