DDR Corp. (DDR) Rating Lowered to Hold at Zacks Investment Research
DDR Corp. (NYSE:DDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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.”
A number of other analysts also recently weighed in on DDR. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $10.00 target price on shares of DDR Corp. in a research report on Friday, November 3rd. Boenning Scattergood reaffirmed a “sell” rating on shares of DDR Corp. in a research report on Monday. ValuEngine raised shares of DDR Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 target price (down from $11.00) on shares of DDR Corp. in a research report on Tuesday. Finally, Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $12.00 to $13.00 in a research 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 given a buy rating to the stock. DDR Corp. currently has a consensus rating of “Hold” and a consensus target price of $12.04.
DDR Corp. (NYSE DDR) traded up $0.06 during trading hours on Wednesday, hitting $8.00. 418,954 shares of the stock were exchanged, compared to its average volume of 5,070,599. The stock has a market cap of $2,910.87, a P/E ratio of 6.58, a PEG ratio of 1.38 and a beta of 0.76. The company has a quick ratio of 1.65, a current ratio of 0.61 and a debt-to-equity ratio of 1.51. DDR Corp. has a 12-month low of $7.55 and a 12-month high of $15.82.
DDR Corp. (NYSE:DDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $220.10 million for the quarter, compared to the consensus estimate of $218.58 million. DDR Corp. had a net margin of 1.11% and a return on equity of 3.48%. The company’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. analysts expect that DDR Corp. will post 1.14 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of DDR. BlackRock Inc. lifted its stake in DDR Corp. by 4,057.9% during the 1st quarter. BlackRock Inc. now owns 20,681,069 shares of the real estate investment trust’s stock valued at $259,135,000 after acquiring an additional 20,183,679 shares during the period. Goldman Sachs Group Inc. lifted its stake in DDR Corp. by 26.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock valued at $266,566,000 after acquiring an additional 6,219,488 shares during the period. Brookfield Asset Management Inc. lifted its stake in DDR Corp. by 312.0% during the 2nd 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 period. Capital Growth Management LP bought a new position in DDR Corp. during the 3rd quarter valued at about $47,357,000. Finally, Eaton Vance Management bought a new position in DDR Corp. during the 2nd quarter valued at about $40,491,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
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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