DDR Corp. to Post FY2017 Earnings of $1.18 Per Share, KeyCorp Forecasts (DDR)
DDR Corp. (NYSE:DDR) – KeyCorp reduced their FY2017 earnings per share (EPS) estimates for DDR Corp. in a research note issued on Wednesday. KeyCorp analyst T. Thomas now expects that the brokerage will earn $1.18 per share for the year, down from their previous estimate of $1.28. KeyCorp currently has a “Buy” rating and a $21.00 target price on the stock.
Several other equities research analysts have also commented on DDR. Jefferies Group assumed coverage on shares of DDR Corp. in a report on Thursday, June 30th. They issued a “hold” rating and a $19.00 price target for the company. Canaccord Genuity reissued a “hold” rating on shares of DDR Corp. in a report on Monday, July 11th. Deutsche Bank AG boosted their price target on shares of DDR Corp. from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, July 18th. Credit Suisse Group AG lowered shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price target for the company. in a report on Wednesday, July 27th. Finally, BTIG Research assumed coverage on shares of DDR Corp. in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. DDR Corp. presently has an average rating of “Hold” and an average target price of $19.04.
Shares of DDR Corp. (NYSE:DDR) opened at 16.40 on Monday. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 27.52 and a beta of 1.00. The stock has a 50 day moving average of $17.98 and a 200 day moving average of $18.01. DDR Corp. has a 12-month low of $15.36 and a 12-month high of $19.92.
DDR Corp. (NYSE:DDR) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm earned $245.90 million during the quarter, compared to analyst estimates of $243.03 million. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.63%. DDR Corp.’s payout ratio is currently 126.67%.
In related news, Director Scott D. Roulston bought 5,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were bought at an average price 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. Gidel sold 16,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $19.50, for a total transaction of $312,000.00. Following the completion of the transaction, the director now directly owns 51,954 shares in the company, valued at approximately $1,013,103. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in shares of DDR Corp. by 2,638.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,215 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 7,915 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 100 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of DDR Corp. during the second quarter valued at about $245,000. Gateway Investment Advisers LLC boosted its stake in shares of DDR Corp. by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 14,563 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 1,051 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in shares of DDR Corp. by 6.5% in the second quarter. World Asset Management Inc now owns 14,895 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 907 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.
DDR Corp. Company Profile
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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