DDR Corp. (NYSE:DDR) Rating Increased to Buy at Deutsche Bank AG
Deutsche Bank AG upgraded shares of DDR Corp. (NYSE:DDR) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat Ratings reports. Deutsche Bank AG currently has $13.00 price target on the real estate investment trust’s stock, up from their prior price target of $12.00.
Several other research analysts have also recently weighed in on DDR. Jefferies Group LLC reaffirmed a hold rating and set a $13.00 price objective on shares of DDR Corp. in a research report on Monday, April 24th. Royal Bank Of Canada reaffirmed a hold rating and set a $14.00 price objective on shares of DDR Corp. in a research report on Thursday, April 27th. Citigroup Inc. reduced their price objective on DDR Corp. from $16.50 to $13.00 and set a buy rating for the company in a research report on Tuesday, May 9th. Boenning Scattergood raised DDR Corp. from an underperform rating to a neutral rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, TheStreet cut DDR Corp. from a c- rating to a d+ rating in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. DDR Corp. has an average rating of Hold and a consensus target price of $14.32.
Shares of DDR Corp. (DDR) opened at 10.18 on Thursday. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.92. The stock’s 50 day moving average price is $9.29 and its 200-day moving average price is $11.73. The stock’s market capitalization is $3.74 billion.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.22. The firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a positive return on equity of 1.22% and a negative net margin of 5.48%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. Equities research analysts anticipate that DDR Corp. will post ($0.15) EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 15th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.76 annualized dividend and a yield of 7.41%. DDR Corp.’s payout ratio is presently -379.98%.
In other DDR Corp. news, Director Terrance R. Ahern acquired 59,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were purchased at an average price of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the purchase, the director now directly owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander Otto acquired 500,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $9.52 per share, for a total transaction of $4,760,000.00. Following the purchase, the director now directly owns 44,509,893 shares of the company’s stock, valued at $423,734,181.36. The disclosure for this purchase can be found here. Insiders have purchased 1,355,325 shares of company stock worth $12,692,310 in the last quarter. 16.20% of the stock is currently owned by corporate insiders.
A number of hedge funds 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 valued at $259,135,000 after buying an additional 20,183,679 shares in the last quarter. 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 valued at $71,970,000 after buying an additional 5,702,911 shares in the last quarter. 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 valued at $290,325,000 after buying an additional 4,348,169 shares in the last quarter. 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 valued at $47,151,000 after buying an additional 2,463,134 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in DDR Corp. by 51.6% in the first quarter. Prudential Financial Inc. now owns 4,522,279 shares of the real estate investment trust’s stock valued at $56,664,000 after buying an additional 1,539,275 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.
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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