DDR Corp. (DDR) Given “Buy” Rating at KeyCorp
Several other equities research analysts have also recently weighed in on DDR. Citigroup Inc. decreased their price target on DDR Corp. from $16.50 to $13.00 and set a buy rating on the stock in a research report on Tuesday, May 9th. ValuEngine cut DDR Corp. from a buy rating to a hold rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a hold rating and set a $13.00 price target on shares of DDR Corp. in a research report on Friday, May 26th. BidaskClub upgraded DDR Corp. from a strong sell rating to a sell rating in a research report on Tuesday, June 27th. Finally, Boenning Scattergood upgraded DDR Corp. from an underperform rating to a neutral rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $14.00.
DDR Corp. (DDR) traded up 1.96% on Friday, hitting $9.87. 2,072,139 shares of the stock traded hands. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.22. The stock has a 50-day moving average price of $9.89 and a 200 day moving average price of $10.82. The company’s market cap is $3.62 billion.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.22. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $222.90 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. On average, analysts anticipate that DDR Corp. will post ($0.10) EPS for the current fiscal year.
In related news, Director Terrance R. Ahern acquired 59,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the transaction, the director now owns 323,060 shares in the company, valued at $2,736,318.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David R. Lukes acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $8.37 per share, for a total transaction of $502,200.00. Following the completion of the transaction, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. 16.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in DDR Corp. by 4,057.9% in the first quarter. BlackRock Inc. now owns 20,681,069 shares of the real estate investment trust’s stock valued at $259,135,000 after buying an additional 20,183,679 shares during the period. Goldman Sachs Group Inc. boosted its position in DDR Corp. by 26.8% in the second quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock valued at $266,566,000 after buying an additional 6,219,488 shares during the period. Brookfield Asset Management Inc. boosted its position in DDR Corp. by 312.0% in the second quarter. Brookfield Asset Management Inc. now owns 8,181,400 shares of the real estate investment trust’s stock valued at $74,205,000 after buying an additional 6,195,700 shares during the period. Principal Financial Group Inc. boosted its position in DDR Corp. by 13,961.6% in the first quarter. Principal Financial Group Inc. now owns 5,743,758 shares of the real estate investment trust’s stock valued at $71,970,000 after buying an additional 5,702,911 shares during the period. Finally, Eaton Vance Management bought a new position in DDR Corp. during the second quarter valued at $40,491,000. Institutional investors own 80.03% of the company’s stock.
About DDR Corp.
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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