DDR (DDR) Trading 11.3% Higher
DDR Corp (NYSE:DDR)’s share price traded up 11.3% on Friday . The company traded as high as $8.92 and last traded at $8.86. 21,438,690 shares changed hands during mid-day trading, an increase of 322% from the average session volume of 5,081,608 shares. The stock had previously closed at $7.96.
A number of equities analysts have weighed in on the company. Zacks Investment Research cut DDR from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Morgan Stanley restated an “equal weight” rating and issued a $8.25 price target on shares of DDR in a report on Thursday. Stifel Nicolaus initiated coverage on DDR in a research report on Thursday, November 30th. They issued a “buy” rating and a $8.25 target price on the stock. ValuEngine lowered DDR from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of DDR in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.36.
The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market cap of $2,973.51, a PE ratio of 6.72, a PEG ratio of 1.41 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.76 dividend on an annualized basis and a yield of 8.58%. DDR’s payout ratio is currently -1,900.00%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in DDR by 26.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock worth $266,566,000 after buying an additional 6,219,488 shares during the last quarter. BlackRock Inc. grew its stake in shares of DDR by 7.5% in the second quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock worth $201,598,000 after purchasing an additional 1,545,615 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of DDR 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 worth $87,658,000 after purchasing an additional 1,521,023 shares in the last quarter. State Street Corp grew its stake in shares of DDR by 0.4% in the second quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock worth $87,284,000 after purchasing an additional 36,430 shares in the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in shares of DDR 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 worth $74,205,000 after purchasing an additional 6,195,700 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.
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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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