FY2017 EPS Estimates for DDR Corp. (DDR) Lifted by Analyst
DDR Corp. (NYSE:DDR) – Investment analysts at Boenning Scattergood raised their FY2017 earnings per share (EPS) estimates for shares of DDR Corp. in a research report issued on Monday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will earn $1.17 per share for the year, up from their previous forecast of $1.15. Boenning Scattergood has a “Sell” rating on the stock. Boenning Scattergood also issued estimates for DDR Corp.’s Q4 2017 earnings at $0.26 EPS, Q1 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $1.03 EPS.
DDR Corp. (NYSE:DDR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. DDR Corp. had a net margin of 1.11% and a return on equity of 3.44%. The business had revenue of $220.10 million for the quarter, compared to analyst estimates of $218.58 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue was down 10.2% on a year-over-year basis.
A number of other equities analysts have also commented on DDR. SunTrust Banks, Inc. restated a “hold” rating and issued a $10.00 price target on shares of DDR Corp. in a research report on Friday, November 3rd. ValuEngine upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 target price (down from $11.00) on shares of DDR Corp. in a research report on Tuesday. Zacks Investment Research upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, October 4th. Finally, Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and upped their target price for the stock from $12.00 to $13.00 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. DDR Corp. currently has a consensus rating of “Hold” and a consensus target price of $12.04.
Shares of DDR Corp. (NYSE DDR) opened at $7.97 on Wednesday. The firm has a market cap of $2,907.19, a PE ratio of 6.57, a PEG ratio of 1.39 and a beta of 0.76. DDR Corp. has a 12-month low of $7.55 and a 12-month high of $15.82. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.67.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.54%. The ex-dividend date was Monday, September 25th. DDR Corp.’s dividend payout ratio is currently -1,900.00%.
A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 6,219,488 shares during the last quarter. BlackRock Inc. raised its position in shares of DDR Corp. by 7.5% in the second quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock valued at $201,598,000 after purchasing an additional 1,545,615 shares during the period. Bank of New York Mellon Corp raised its position in shares of DDR Corp. by 18.7% in the second quarter. Bank of New York Mellon Corp now owns 9,664,559 shares of the real estate investment trust’s stock valued at $87,658,000 after purchasing an additional 1,521,023 shares during the period. State Street Corp raised its position in shares of DDR Corp. by 0.4% in the second quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock valued at $87,284,000 after purchasing an additional 36,430 shares during the period. Finally, Brookfield Asset Management Inc. raised its position in shares of 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 purchasing an additional 6,195,700 shares during the period. Hedge funds and other 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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