SunTrust Banks set a $9.00 price objective on DDR (NYSE:DDR) in a research note issued to investors on Monday, January 22nd. The brokerage currently has a hold rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for DDR’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $1.15 EPS, FY2018 earnings at $0.98 EPS, FY2019 earnings at $0.98 EPS, FY2020 earnings at $0.99 EPS, FY2021 earnings at $1.05 EPS and FY2022 earnings at $1.07 EPS.
DDR has been the subject of several other reports. Royal Bank of Canada restated a sector perform rating and set a $9.00 price target (down from $11.00) on shares of DDR in a report on Tuesday, November 7th. Boenning Scattergood reiterated a sell rating on shares of DDR in a research note on Monday, December 18th. Mizuho reissued a hold rating and issued a $10.00 price target on shares of DDR in a research report on Monday, October 9th. Zacks Investment Research lowered shares of DDR from a buy rating to a hold rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley reissued an equal weight rating and issued a $8.25 price target on shares of DDR in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $11.21.
DDR (NYSE:DDR) traded up $0.01 during trading on Monday, hitting $7.19. 4,021,852 shares of the stock traded hands, compared to its average volume of 4,526,453. 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 capitalization of $2,656.63, a P/E ratio of -179.75, a P/E/G ratio of 1.42 and a beta of 0.60. DDR has a 1-year low of $6.77 and a 1-year high of $14.89.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.57%. DDR’s payout ratio is presently -1,900.00%.
Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in DDR by 0.4% during the 2nd 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. Arrowstreet Capital Limited Partnership bought a new stake in shares of DDR in the 2nd quarter valued at about $149,000. Prudential Financial Inc. increased its stake in shares of DDR by 71.4% in the 3rd quarter. Prudential Financial Inc. now owns 3,161,322 shares of the real estate investment trust’s stock valued at $28,958,000 after acquiring an additional 1,317,007 shares during the last quarter. BlackRock Inc. increased its stake in shares of DDR by 7.5% in the 2nd quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock valued at $201,598,000 after acquiring an additional 1,545,615 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of DDR by 33.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,731,487 shares of the real estate investment trust’s stock valued at $34,181,000 after acquiring an additional 937,147 shares during the last quarter. Institutional investors own 78.89% 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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