Zacks Investment Research upgraded shares of DDR (NYSE:DDR) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Shares of DDR Corp. outperformed the industry it belongs to in the past three months. The Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share remained stable in a month’s time. Notably, in December 2017, DDR announced the decision of its board of directors to spin-off a portfolio of 50 sellable assets into a separate public-traded REIT. The move will help the company streamline its portfolio and focus on core markets. Further, aggressive capital-recycling program and balance-sheet improvement efforts are expected to drive its growth over the long term. Nevertheless, the choppy retail real estate environment, thanks to the shift in customers’ shopping preferences toward online purchases, remains a concern. Also, aggressive asset divestures have a dilutive effect on earnings.”
A number of other analysts have also recently weighed in on DDR. Boenning Scattergood cut DDR from a neutral rating to an under perform rating in a research report on Tuesday, October 3rd. ValuEngine raised DDR from a hold rating to a buy rating in a research report on Monday, October 2nd. Mizuho reaffirmed a hold rating and set a $10.00 price objective on shares of DDR in a research report on Monday, October 9th. Capital One Financial reaffirmed an equal weight rating on shares of DDR in a research report on Friday, December 15th. Finally, SunTrust Banks set a $9.00 price objective on DDR and gave the stock a hold rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. DDR has an average rating of Hold and an average price target of $11.21.
DDR (NYSE:DDR) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $220.10 million during the quarter, compared to analysts’ expectations of $218.58 million. DDR had a return on equity of 3.48% and a net margin of 1.11%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. research analysts anticipate that DDR will post 1.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date of this dividend was Monday, December 11th. DDR’s dividend payout ratio (DPR) is -1,900.00%.
Several hedge funds have recently modified their holdings of DDR. JPMorgan Chase & Co. raised its stake in shares of DDR by 27.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 870,809 shares of the real estate investment trust’s stock worth $7,898,000 after buying an additional 186,189 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of DDR by 47.5% during the 2nd 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 buying an additional 10,250 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of DDR by 1.2% during the 2nd quarter. Franklin Resources Inc. now owns 237,633 shares of the real estate investment trust’s stock worth $2,156,000 after buying an additional 2,833 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of DDR by 89.1% during the 2nd quarter. Wells Fargo & Company MN now owns 518,989 shares of the real estate investment trust’s stock worth $4,708,000 after buying an additional 244,566 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of DDR by 1.5% during the 2nd quarter. Alliancebernstein L.P. now owns 421,923 shares of the real estate investment trust’s stock worth $3,827,000 after buying an additional 6,058 shares in the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.
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DDR 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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