DDR Sees Unusually Large Options Volume (DDR)
DDR Corp (NYSE:DDR) saw unusually large options trading on Monday. Stock investors purchased 1,546 put options on the company. This represents an increase of approximately 931% compared to the average volume of 150 put options.
DDR has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $13.00 price target on shares of DDR in a research report on Friday, September 1st. Mizuho restated a “hold” rating and set a $10.00 price target on shares of DDR in a research report on Monday, October 9th. ValuEngine downgraded DDR from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank of Canada restated a “sector perform” rating and set a $9.00 price target (down previously from $11.00) on shares of DDR in a research report on Tuesday, November 7th. Finally, Zacks Investment Research downgraded DDR from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $11.36.
Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in shares of DDR during the second quarter valued at about $121,000. Principal Financial Group Inc. grew its stake in shares of DDR by 18.0% during the second quarter. Principal Financial Group Inc. now owns 6,777,400 shares of the real estate investment trust’s stock valued at $61,471,000 after buying an additional 1,033,642 shares during the last quarter. State Street Corp grew its stake in shares of DDR by 0.4% during the second quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock valued at $87,284,000 after buying an additional 36,430 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of DDR during the second quarter valued at about $149,000. Finally, Prudential Financial Inc. grew its stake in shares of DDR by 71.4% during the third quarter. Prudential Financial Inc. now owns 3,161,322 shares of the real estate investment trust’s stock valued at $28,958,000 after buying an additional 1,317,007 shares during the last quarter. 80.04% of the stock is currently owned by hedge funds and other institutional investors.
DDR (NYSE:DDR) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03. DDR had a return on equity of 3.48% and a net margin of 1.11%. The firm had revenue of $220.10 million for the quarter, compared to analysts’ expectations of $218.58 million. During the same period last year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. sell-side analysts anticipate that DDR will post 1.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.58%. DDR’s dividend payout ratio (DPR) is currently -1,900.00%.
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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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