Published On: Sat, Sep 17th, 2016

DDR Corp.’s (DDR) “Hold” Rating Reiterated at Jefferies Group

DDR Corp. (NYSE:DDR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group in a report released on Tuesday.
A number of other equities analysts have also issued reports on the company. Bank of America Corp. lowered DDR Corp. from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $18.34 to $18.50 in a research note on Thursday, August 25th. BTIG Research began coverage on DDR Corp. in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Canaccord Genuity lifted their price objective on DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Citigroup Inc. lifted their price objective on DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Finally, Credit Suisse Group AG lowered DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price objective for the company. in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.77.
Shares of DDR Corp. (NYSE:DDR) traded down 0.40% on Tuesday, reaching $17.59. The company’s stock had a trading volume of 3,737,414 shares. The firm has a 50-day moving average price of $18.90 and a 200 day moving average price of $18.00. DDR Corp. has a one year low of $14.99 and a one year high of $19.92. The firm has a market capitalization of $6.42 billion, a PE ratio of 29.51 and a beta of 1.04.

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DDR Corp. (NYSE:DDR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company earned $245.90 million during the quarter, compared to analyst estimates of $243.03 million. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, analysts anticipate that DDR Corp. will post $1.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, September 21st. DDR Corp.’s dividend payout ratio is currently 126.67%.
In other news, VP Christa A. Vesy sold 5,000 shares of DDR Corp. stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $17.38, for a total transaction of $86,900.00. Following the sale, the vice president now owns 89,506 shares of the company’s stock, valued at approximately $1,555,614.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott D. Roulston purchased 5,500 shares of DDR Corp. stock in a transaction dated Tuesday, August 23rd. The shares were purchased at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the transaction, the director now owns 18,723 shares in the company, valued at approximately $348,435.03. The disclosure for this purchase can be found here. Insiders own 16.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in DDR Corp. by 3.7% in the first quarter. State Street Corp now owns 8,759,791 shares of the real estate investment trust’s stock worth $155,838,000 after buying an additional 309,326 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 100 shares in the last quarter. BlackRock Inc. raised its stake in DDR Corp. by 57.5% in the first quarter. BlackRock Inc. now owns 430,751 shares of the real estate investment trust’s stock worth $7,663,000 after buying an additional 157,193 shares in the last quarter. Boothbay Fund Management LLC raised its stake in DDR Corp. by 73.0% in the first quarter. Boothbay Fund Management LLC now owns 56,176 shares of the real estate investment trust’s stock worth $999,000 after buying an additional 23,707 shares in the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in DDR Corp. by 0.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 222,000 shares of the real estate investment trust’s stock worth $3,738,000 after buying an additional 1,300 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.
DDR Corp. Company Profile
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.

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