Analysts forecast that DDR Corp. (NYSE:DDR) will report earnings per share (EPS) of $0.27 for the current quarter, Zacks reports. Seven analysts have issued estimates for DDR Corp.’s earnings, with estimates ranging from $0.25 to $0.28. DDR Corp. reported earnings per share of $0.33 in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.2%. The company is scheduled to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that DDR Corp. will report full year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.09 to $1.15. For the next financial year, analysts forecast that the company will report earnings of $1.03 per share, with EPS estimates ranging from $0.92 to $1.11. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover DDR Corp..
DDR Corp. (NYSE:DDR) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.22%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. During the same period last year, the firm posted $0.33 earnings per share. DDR Corp.’s quarterly revenue was down 7.5% compared to the same quarter last year.
DDR has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 price objective on shares of DDR Corp. in a research report on Friday, May 26th. Citigroup Inc. cut their price objective on DDR Corp. from $16.50 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. KeyCorp restated an “overweight” rating and set a $13.00 price target (down from $16.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. Boenning Scattergood upgraded DDR Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, ValuEngine lowered DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.32.
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Shares of DDR Corp. (DDR) traded down 3.1240% during trading on Wednesday, hitting $9.9201. The stock had a trading volume of 3,649,617 shares. The firm has a 50 day moving average price of $9.35 and a 200-day moving average price of $11.61. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $19.56. The stock’s market capitalization is $3.64 billion.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date of this dividend was Tuesday, June 13th. DDR Corp.’s payout ratio is -379.98%.
In related news, Director Terrance R. Ahern acquired 59,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was acquired at an average price of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the purchase, the director now owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David R. Lukes acquired 170,000 shares of the stock in a transaction on Friday, May 12th. The shares were bought at an average price of $9.48 per share, with a total value of $1,611,600.00. Following the purchase, the chief executive officer now directly owns 372,948 shares of the company’s stock, valued at approximately $3,535,547.04. The disclosure for this purchase can be found here. Insiders have acquired 1,355,325 shares of company stock valued at $12,692,310 in the last quarter. 16.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DDR. LSV Asset Management bought a new position in shares of DDR Corp. during the first quarter worth about $7,365,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of DDR Corp. by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,405 shares of the real estate investment trust’s stock worth $594,000 after buying an additional 269 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of DDR Corp. by 111.6% in the first quarter. Canada Pension Plan Investment Board now owns 69,200 shares of the real estate investment trust’s stock worth $867,000 after buying an additional 36,500 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of DDR Corp. during the first quarter worth about $429,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of DDR Corp. during the first quarter worth about $3,509,000. Institutional investors and hedge funds own 82.76% of the company’s stock.
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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