KeyCorp Analysts Give DDR Corp. (DDR) a $21.00 Price Target
DDR Corp. (NYSE:DDR) has been given a $21.00 price objective by analysts at KeyCorp in a report issued on Thursday. The firm presently has a a “buy” rating on the real estate investment trust’s stock. KeyCorp’s price objective would indicate a potential upside of 27.74% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Bank of America Corp. downgraded DDR Corp. from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Zacks Investment Research upgraded DDR Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday. Jefferies Group restated a “hold” rating on shares of DDR Corp. in a report on Tuesday, September 13th. Mizuho downgraded DDR Corp. from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $19.00 to $17.00 in a report on Monday, July 11th. Finally, Citigroup Inc. upped their target price on DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.04.
Shares of DDR Corp. (NYSE:DDR) traded down 0.30% during midday trading on Thursday, reaching $16.39. 1,864,558 shares of the company’s stock were exchanged. DDR Corp. has a 12 month low of $15.36 and a 12 month high of $19.92. The company has a market cap of $5.98 billion, a P/E ratio of 27.50 and a beta of 1.00. The firm has a 50 day moving average price of $18.04 and a 200 day moving average price of $18.01.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The firm earned $245.90 million during the quarter, compared to the consensus estimate of $243.03 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that DDR Corp. will post $1.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.62%. DDR Corp.’s dividend payout ratio (DPR) is presently 126.67%.
In other DDR Corp. news, Director Scott D. Roulston acquired 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average cost of $18.61 per share, with a total value of $102,355.00. Following the completion of the transaction, the director now directly owns 18,723 shares of the company’s stock, valued at approximately $348,435.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Gidel sold 16,000 shares of the stock in a transaction 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 sale, the director now directly owns 51,954 shares in the company, valued at $1,013,103. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in shares of DDR Corp. by 2.2% in the first quarter. M&T Bank Corp now owns 88,551 shares of the real estate investment trust’s stock valued at $1,576,000 after buying an additional 1,934 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in shares of DDR Corp. by 16.0% in the first quarter. Brookfield Asset Management Inc. now owns 852,900 shares of the real estate investment trust’s stock valued at $15,173,000 after buying an additional 117,700 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of DDR Corp. by 56.8% in the first quarter. Landscape Capital Management L.L.C. now owns 158,531 shares of the real estate investment trust’s stock valued at $2,820,000 after buying an additional 57,432 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of DDR Corp. during the first quarter valued at about $1,290,000. Finally, JPMorgan Chase & Co. boosted its position in shares of DDR Corp. by 547.6% in the first quarter. JPMorgan Chase & Co. now owns 1,425,034 shares of the real estate investment trust’s stock valued at $25,353,000 after buying an additional 1,204,990 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.
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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