FY2016 EPS Estimates for DDR Corp. (DDR) Increased by Analyst
DDR Corp. (NYSE:DDR) – Research analysts at Capital One Financial Corp. increased their FY2016 earnings estimates for DDR Corp. in a research note issued on Sunday. Capital One Financial Corp. analyst C. Lucas now forecasts that the brokerage will earn $1.28 per share for the year, up from their previous forecast of $1.26.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, October 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. DDR Corp. had a return on equity of 3.93% and a net margin of 12.17%. The company had revenue of $245.20 million for the quarter, compared to analysts’ expectations of $243.84 million. During the same period in the previous year, the firm posted $0.31 EPS. DDR Corp.’s revenue was down 1.5% compared to the same quarter last year.
A number of other equities research analysts have also recently weighed in on DDR. Raymond James Financial Inc. initiated coverage on shares of DDR Corp. in a research report on Monday, July 25th. They issued an “outperform” rating and a $21.00 price target for the company. Credit Suisse Group AG cut shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price target for the company. in a research report on Wednesday, July 27th. Jefferies Group reissued a “hold” rating and issued a $19.00 price target on shares of DDR Corp. in a research report on Wednesday, July 27th. Citigroup Inc. boosted their price target on shares of DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Finally, Canaccord Genuity boosted their price target on shares of DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. DDR Corp. currently has an average rating of “Hold” and an average target price of $18.62.
Shares of DDR Corp. (NYSE:DDR) opened at 14.98 on Wednesday. DDR Corp. has a 12-month low of $14.67 and a 12-month high of $19.92. The company has a 50-day moving average price of $15.97 and a 200 day moving average price of $17.66. The firm has a market capitalization of $5.48 billion, a PE ratio of 58.29 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Tuesday, December 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, December 9th. This represents a $0.76 annualized dividend and a yield of 5.07%. DDR Corp.’s dividend payout ratio is currently 281.49%.
In related news, Director Alexander Otto bought 281,301 shares of the stock in a transaction on Monday, November 14th. The shares were bought at an average cost of $14.91 per share, for a total transaction of $4,194,197.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Roulston bought 5,500 shares of the stock in a transaction on Tuesday, August 23rd. The shares were bought at an average price of $18.61 per share, for a total transaction 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 disclosure for this purchase can be found here. Corporate insiders own 16.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of DDR Corp. during the second quarter valued at $2,505,000. Canada Pension Plan Investment Board raised its position 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 during the last quarter. Boothbay Fund Management LLC raised its position in shares of DDR Corp. by 73.0% in the first quarter. Boothbay Fund Management LLC now owns 56,176 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 23,707 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of DDR Corp. by 38.5% in the second quarter. Ameriprise Financial Inc. now owns 394,301 shares of the real estate investment trust’s stock valued at $7,156,000 after buying an additional 109,513 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of DDR Corp. during the second quarter valued at $8,799,000. Institutional investors own 89.85% 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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