DDR Corp. (DDR) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of DDR Corp. (NYSE: DDR) recently:

  • 7/31/2017 – DDR Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “DDR reported second-quarter 2017 funds from operations (FFO) per share of $0.30, beating the Zacks Consensus Estimate by $0.02. Notably, during the reported quarter, DDR completed its strategic planning and portfolio review process. With proceeds generated from disposition of assets and capital market access, the company has made progress on leverage reduction and lengthening of average debt maturity. However, DDR shares have underperformed the industry it belongs to, year to date. Notably, store closures and retailers’ bankruptcy amid a significant growth in online sales have made the retail real estate market choppy. Moreover, though the company is focused on streamlining its organizational structure to enhance efficiency, achieve appropriate staffing, centralize key operational decision making and reduce operating costs, the near-term earnings dilutive effects of divestitures cannot be bypassed. Also, rate hike have added to its woes.”
  • 7/27/2017 – DDR Corp. was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $13.00 price target on the stock, up previously from $12.00.
  • 7/27/2017 – DDR Corp. had its “hold” rating reaffirmed by analysts at Boenning Scattergood.
  • 7/19/2017 – DDR Corp. was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/28/2017 – DDR Corp. had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $13.00 price target on the stock, down previously from $16.50.
  • 6/28/2017 – DDR Corp. had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $12.00 price target on the stock, down previously from $14.50.
  • 6/27/2017 – DDR Corp. was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/20/2017 – DDR Corp. had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $9.00 price target on the stock.
  • 6/13/2017 – DDR Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of DDR underperformed the Zacks categorized REIT and Equity Trust – Retail industry in the last three months. Its second quarter and full-year 2017 funds from operations (FFO) per share estimate too moved south in the past 30 days. In April, DDR came out with better-than-expected first-quarter 2017 FFO per share figure, but it was lower than the prior-year quarter. The year-over-year fall reflected the dilutive effect of deleveraging generated through sale of assets. In May 2017, the company’s rating outlook has been downgraded by Moody’s Investors Service due to its weakening shopping center fundamentals. Nevertheless, the company is focused on streamlining its organizational structure to enhance efficiency, achieve appropriate staffing, centralize key operational decision making and reduce operating costs. Moreover, its solid portfolio, well-capitalized tenants and capital-recycling program are likely to drive growth.”

Shares of DDR Corp. (NYSE:DDR) traded up 1.548% during mid-day trading on Wednesday, reaching $10.165. 1,503,776 shares of the company’s stock were exchanged. DDR Corp. has a one year low of $8.11 and a one year high of $19.43. The firm’s market capitalization is $3.73 billion. The stock has a 50-day moving average of $9.41 and a 200 day moving average of $11.58.

DDR Corp. (NYSE:DDR) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS 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 analysts’ expectations of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. On average, analysts forecast that DDR Corp. will post ($0.11) EPS for the current fiscal year.

In other news, CEO David R. Lukes acquired 60,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $8.37 per share, with a total value of $502,200.00. Following the completion of the transaction, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David R. Lukes acquired 170,000 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $9.48 per share, with a total value of $1,611,600.00. Following the transaction, the chief executive officer now directly owns 372,948 shares of the company’s stock, valued at approximately $3,535,547.04. The disclosure for this purchase can be found here. Insiders have acquired 855,325 shares of company stock valued at $7,932,310 in the last three months. Insiders own 16.20% of the company’s stock.

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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