DDR Corp (NYSE:DDR) gapped down prior to trading on Thursday . The stock had previously closed at $7.34, but opened at $7.15. DDR shares last traded at $6.90, with a volume of 7207048 shares.
Several equities research analysts recently issued reports on DDR shares. Citigroup reissued a “buy” rating on shares of DDR in a report on Friday, December 15th. Zacks Investment Research lowered shares of DDR from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. ValuEngine lowered shares of DDR from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Boenning Scattergood reissued a “sell” rating on shares of DDR in a report on Monday, December 18th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $8.00 target price on shares of DDR in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.65.
The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $2,540.00, a price-to-earnings ratio of -5.85, a PEG ratio of 1.49 and a beta of 0.61.
DDR (NYSE:DDR) last announced its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. DDR had a negative net margin of 27.22% and a negative return on equity of 5.56%. The business had revenue of $209.43 million during the quarter, compared to analyst estimates of $205.20 million. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was down 9.8% on a year-over-year basis. research analysts predict that DDR Corp will post 0.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date is Thursday, March 15th. DDR’s dividend payout ratio (DPR) is currently -64.41%.
In other DDR news, Director Alexander Otto bought 1,351,558 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $7.81 per share, with a total value of $10,555,667.98. Following the completion of the acquisition, the director now owns 48,963,634 shares in the company, valued at approximately $382,405,981.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of DDR. Royal Bank of Canada grew its holdings in shares of DDR by 317.9% in the second quarter. Royal Bank of Canada now owns 24,049 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 18,294 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of DDR by 24.9% in the second quarter. The Manufacturers Life Insurance Company now owns 23,930 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 4,768 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of DDR by 436.5% in the third quarter. Nationwide Fund Advisors now owns 233,943 shares of the real estate investment trust’s stock valued at $2,143,000 after purchasing an additional 190,334 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of DDR by 17.9% in the third quarter. First Trust Advisors LP now owns 226,978 shares of the real estate investment trust’s stock valued at $2,079,000 after purchasing an additional 34,458 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of DDR by 81.5% in the third quarter. Canada Pension Plan Investment Board now owns 248,300 shares of the real estate investment trust’s stock valued at $2,274,000 after purchasing an additional 111,500 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
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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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