Zacks Investment Research downgraded shares of DDR (NYSE:DDR) from a hold rating to a sell rating in a report issued on Monday morning.
According to Zacks, “Shares of DDR Corp. underperformed the industry it belongs to in the past six months. The stock has seen the Zacks Consensus Estimate for funds from operations (FFO) per share for 2017 remaining stable, while the same for 2018 moving south in a month’s time. In December 2017, DDR announced the decision of its board of directors to spin-off a portfolio of 50 sellable assets into a separate public-traded REIT. The move will help the company streamline its portfolio and focus on core markets. Nevertheless, the choppy retail real estate environment, thanks to the shift in customers’ shopping preferences toward online purchases, remains a concern. Further, aggressive asset divestures have a dilutive effect on earnings. Rate hike add to the company’s woes. However, aggressive capital-recycling program and balance-sheet improvement efforts have the capability to drive its growth over the long term.”
DDR has been the subject of several other reports. Mizuho set a $9.00 target price on shares of DDR and gave the company a hold rating in a report on Monday, December 18th. Morgan Stanley restated an equal weight rating and set a $8.25 target price on shares of DDR in a report on Thursday, December 14th. Stifel Nicolaus assumed coverage on shares of DDR in a report on Thursday, November 30th. They set a buy rating and a $8.25 target price for the company. ValuEngine downgraded shares of DDR from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, Raymond James Financial restated a buy rating on shares of DDR in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $11.29.
DDR (NYSE DDR) traded down $0.23 during trading hours on Monday, reaching $8.36. 5,465,254 shares of the company’s stock traded hands, compared to its average volume of 4,925,255. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.61 and a quick ratio of 0.61. DDR has a 52-week low of $7.26 and a 52-week high of $15.57. The stock has a market cap of $3,160.00, a P/E ratio of -18.17, a P/E/G ratio of 1.68 and a beta of 0.75.
DDR (NYSE:DDR) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.03. DDR had a net margin of 1.11% and a return on equity of 3.48%. The firm had revenue of $220.10 million during the quarter, compared to the consensus estimate of $218.58 million. During the same period last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. sell-side analysts predict that DDR will post 1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, December 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.09%. DDR’s dividend payout ratio (DPR) is presently -165.22%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of DDR during the second quarter worth about $111,000. 1st Global Advisors Inc. purchased a new stake in shares of DDR during the second quarter worth about $131,000. Profund Advisors LLC grew its holdings in shares of DDR by 25.9% during the second quarter. Profund Advisors LLC now owns 15,228 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 3,132 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of DDR during the second quarter worth about $143,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of DDR during the second quarter worth about $149,000. Institutional investors and hedge funds own 80.02% of the company’s stock.
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DDR Company Profile
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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