DDR (NYSE:DDR) had its target price cut by Stifel Nicolaus from $17.00 to $14.25 in a research report released on Tuesday morning, MarketBeat Ratings reports. They currently have a hold rating on the real estate investment trust’s stock.
DDR has been the subject of a number of other reports. Deutsche Bank lowered their price target on DDR from $22.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, April 17th. Boenning Scattergood reaffirmed a sell rating on shares of DDR in a research note on Thursday, April 26th. ValuEngine cut DDR from a sell rating to a strong sell rating in a research note on Saturday, June 2nd. Evercore ISI cut DDR from an in-line rating to an underperform rating in a research note on Monday, March 5th. Finally, Morgan Stanley upped their price target on DDR from $15.00 to $17.00 and gave the company an equal weight rating in a research note on Thursday, June 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $18.10.
Shares of NYSE:DDR opened at $14.67 on Tuesday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 6.22, a PEG ratio of 1.50 and a beta of 0.59. DDR has a 1-year low of $10.95 and a 1-year high of $17.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.79 and a quick ratio of 0.79.
DDR (NYSE:DDR) last announced its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.38). The company had revenue of $206.96 million during the quarter, compared to the consensus estimate of $196.86 million. DDR had a negative net margin of 27.97% and a negative return on equity of 6.58%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. sell-side analysts expect that DDR will post 1.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 3rd. Shareholders of record on Wednesday, June 13th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend was Tuesday, June 12th. DDR’s dividend payout ratio (DPR) is currently 64.41%.
In other DDR news, Director Scott D. Roulston sold 10,734 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $16.47, for a total transaction of $176,788.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander Otto purchased 633,912 shares of DDR stock in a transaction on Friday, June 29th. The shares were purchased at an average cost of $17.89 per share, with a total value of $11,340,685.68. Following the transaction, the director now owns 32,429,638 shares in the company, valued at $580,166,223.82. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 6,055,907 shares of company stock valued at $70,485,388. Insiders own 17.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in DDR. Daiwa Securities Group Inc. boosted its position in DDR by 151.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,916,799 shares of the real estate investment trust’s stock worth $124,000,000 after acquiring an additional 10,191,668 shares during the last quarter. Centersquare Investment Management LLC acquired a new position in DDR during the 1st quarter worth approximately $38,012,000. HG Vora Capital Management LLC boosted its position in DDR by 56.3% during the 1st quarter. HG Vora Capital Management LLC now owns 12,500,000 shares of the real estate investment trust’s stock worth $91,625,000 after acquiring an additional 4,500,000 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in DDR by 24.7% during the 4th quarter. Brookfield Asset Management Inc. now owns 12,769,670 shares of the real estate investment trust’s stock worth $114,416,000 after acquiring an additional 2,532,900 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of DDR by 1,347.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,747,382 shares of the real estate investment trust’s stock valued at $15,657,000 after buying an additional 1,626,682 shares during the last quarter.
DDR Company Profile
DDR is an owner and manager of 258 value-oriented shopping centers representing 89 million square feet in 32 states and Puerto Rico. The Company owns a high-quality portfolio of open-air shopping centers in major metropolitan areas that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers.
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