DDR Corp. (NYSE:DDR) shares rose NaN during trading on Thursday following a better than expected earnings announcement. The company traded as high as $8.30 and last traded at $0.00. Approximately 7,262,377 shares changed hands during mid-day trading, an increase of Infinity from the average daily volume of 0 shares. The real estate investment trust reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. DDR Corp. had a net margin of 1.11% and a return on equity of 3.44%. The business had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $218.58 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was down 10.2% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.60%. The ex-dividend date of this dividend was Monday, September 25th. DDR Corp.’s payout ratio is -1,900.00%.
Several brokerages have commented on DDR. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Thursday, July 27th. BidaskClub upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. KeyCorp restated a “buy” rating and set a $13.00 price objective on shares of DDR Corp. in a research note on Friday, September 1st. ValuEngine cut shares of DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.63.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp acquired a new position in shares of DDR Corp. in the 2nd quarter valued at $100,000. Cutter & CO Brokerage Inc. purchased a new stake in DDR Corp. in the 2nd quarter worth $104,000. Cambridge Investment Research Advisors Inc. purchased a new stake in DDR Corp. in the 2nd quarter worth $111,000. Janney Montgomery Scott LLC purchased a new stake in DDR Corp. in the 2nd quarter worth $121,000. Finally, Greenleaf Trust purchased a new stake in DDR Corp. in the 2nd quarter worth $123,000. Hedge funds and other institutional investors own 80.26% of the company’s stock.
The company has a debt-to-equity ratio of 1.67, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 1.46 and a beta of 0.76.
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DDR Corp. Company Profile
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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