Jefferies Group Research Analysts Decrease Earnings Estimates for DDR Corp (DDR)
DDR Corp (NYSE:DDR) – Analysts at Jefferies Group lowered their FY2018 earnings per share (EPS) estimates for shares of DDR in a research report issued to clients and investors on Tuesday. Jefferies Group analyst G. Hoglund now anticipates that the real estate investment trust will post earnings of $0.99 per share for the year, down from their prior forecast of $1.00. Jefferies Group also issued estimates for DDR’s FY2019 earnings at $1.01 EPS.
DDR has been the subject of a number of other research reports. Royal Bank of Canada restated a “sector perform” rating and set a $9.00 price objective (down previously from $11.00) on shares of DDR in a research report on Tuesday, November 7th. Mizuho restated a “hold” rating and set a $10.00 price objective on shares of DDR in a research report on Monday, October 9th. Boenning Scattergood reaffirmed a “sell” rating on shares of DDR in a report on Monday, December 18th. Zacks Investment Research downgraded shares of DDR from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.25 price target on shares of DDR in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. DDR presently has an average rating of “Hold” and a consensus target price of $11.29.
DDR (NYSE:DDR) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $220.10 million during the quarter, compared to analyst estimates of $218.58 million. DDR had a return on equity of 3.48% and a net margin of 1.11%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.08%. The ex-dividend date was Monday, December 11th. DDR’s payout ratio is currently -165.22%.
A number of hedge funds and other institutional investors have recently made changes to their positions in DDR. SG Americas Securities LLC lifted its stake in DDR by 2.0% in the second quarter. SG Americas Securities LLC now owns 17,249 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 339 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in DDR in the second quarter worth about $111,000. Swiss National Bank lifted its stake in DDR by 1.8% in the second quarter. Swiss National Bank now owns 523,400 shares of the real estate investment trust’s stock worth $4,747,000 after purchasing an additional 9,100 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in DDR by 27.2% in the second quarter. JPMorgan Chase & Co. now owns 870,809 shares of the real estate investment trust’s stock worth $7,898,000 after purchasing an additional 186,189 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in DDR by 47.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,840 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 10,250 shares during the last quarter. 80.02% of the stock is owned by institutional investors and hedge funds.
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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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