DDR Corp. (DDR) Stock Rating Upgraded by Zacks Investment Research
DDR Corp. (NYSE:DDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $10.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.77% from the stock’s current price.
According to Zacks, “Shares of DDR have outperformed the industry it belongs to over the past three months. Encouragingly, the stock has seen the Zacks Consensus Estimate for 2017 and 2018 funds from operations (FFO) per share being revised upward in a month's time. The company recently completed its strategic planning and portfolio review process. With proceeds generated from disposition of assets and capital market access, it made progress on leverage reduction and lengthening of average debt maturity. Moreover, the company is focused on streamlining its organizational structure to enhance cost efficiency, centralize key operational decision making and improve bottom-line growth. However, the lackluster retail real estate market and the near-term earnings dilutive effects of divestitures remain concerns.”
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and set a $9.00 target price on shares of DDR Corp. in a research note on Tuesday, June 20th. BidaskClub upgraded shares of DDR Corp. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Boenning Scattergood reiterated a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. KeyCorp reiterated an “overweight” rating and issued a $13.00 price target (down from $16.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. Finally, ValuEngine cut shares of DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.23.
DDR Corp. (NYSE:DDR) traded up 0.11% during midday trading on Wednesday, reaching $9.12. The company had a trading volume of 1,844,026 shares. The company’s market capitalization is $3.35 billion. The firm has a 50-day moving average price of $9.66 and a 200-day moving average price of $10.11. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $17.00.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.22). The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Analysts expect that DDR Corp. will post ($0.12) EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sigma Planning Corp purchased a new position in shares of DDR Corp. during the second quarter valued at about $100,000. Cutter & CO Brokerage Inc. bought a new stake in shares of DDR Corp. in the second quarter worth about $104,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of DDR Corp. in the second quarter worth about $111,000. Janney Montgomery Scott LLC bought a new stake in shares of DDR Corp. in the second quarter worth about $121,000. Finally, Greenleaf Trust bought a new stake in shares of DDR Corp. in the second quarter worth about $123,000. 80.24% of the stock is owned by institutional investors and hedge funds.
DDR Corp. 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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