DDR Corp. (DDR) Given a $21.00 Price Target by KeyCorp Analysts
KeyCorp set a $21.00 price objective on DDR Corp. (NYSE:DDR) in a research note issued to investors on Thursday morning. The brokerage currently has a a buy rating on the real estate investment trust’s stock.
A number of other equities research analysts have also issued reports on DDR. Jefferies Group started coverage on shares of DDR Corp. in a report on Thursday, June 30th. They issued a hold rating and a $19.00 price objective for the company. Mizuho lowered shares of DDR Corp. from a neutral rating to an underperform rating and dropped their price objective for the company from $19.00 to $17.00 in a report on Monday, July 11th. Bank of America Corp. lowered shares of DDR Corp. from a buy rating to a neutral rating in a report on Monday, July 11th. Canaccord Genuity reissued a hold rating on shares of DDR Corp. in a report on Monday, July 11th. Finally, Deutsche Bank AG upped their target price on shares of DDR Corp. from $17.00 to $18.00 and gave the company a hold rating in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. DDR Corp. presently has a consensus rating of Hold and an average target price of $19.04.
DDR Corp. (NYSE:DDR) traded down 0.1977% on Thursday, reaching $16.4075. 1,916,443 shares of the company’s stock were exchanged. DDR Corp. has a one year low of $15.36 and a one year high of $19.92. The firm has a 50 day moving average of $18.04 and a 200-day moving average of $18.01. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 27.5294 and a beta of 1.00.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The firm earned $245.90 million during the quarter, compared to analyst estimates of $243.03 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. DDR Corp.’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that DDR Corp. will post $1.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 annualized dividend and a yield of 4.62%. DDR Corp.’s dividend payout ratio (DPR) is 126.67%.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $19.50, for a total value of $312,000.00. Following the transaction, the director now directly owns 51,954 shares in the company, valued at $1,013,103. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Roulston purchased 5,500 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was bought at an average price of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the purchase, the director now directly owns 18,723 shares of the company’s stock, valued at $348,435.03. The disclosure for this purchase can be found here. 16.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of DDR Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 46,531,204 shares of the real estate investment trust’s stock valued at $844,076,000 after buying an additional 1,523,294 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of DDR Corp. by 47.5% in the first quarter. Goldman Sachs Group Inc. now owns 16,889,918 shares of the real estate investment trust’s stock valued at $300,472,000 after buying an additional 5,439,863 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of DDR Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,606,576 shares of the real estate investment trust’s stock valued at $206,481,000 after buying an additional 198,121 shares in the last quarter. Shinko Asset Management Co. Ltd. raised its position in shares of DDR Corp. by 14.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,338,660 shares of the real estate investment trust’s stock valued at $187,543,000 after buying an additional 1,314,310 shares in the last quarter. Finally, State Street Corp raised its position in shares of DDR Corp. by 1.7% in the second quarter. State Street Corp now owns 8,910,140 shares of the real estate investment trust’s stock valued at $161,630,000 after buying an additional 150,349 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.
About DDR Corp.
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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