Boenning Scattergood Weighs in on DDR Corp.’s FY2017 Earnings (NYSE:DDR)

DDR Corp. (NYSE:DDR) – Investment analysts at Boenning Scattergood raised their FY2017 EPS estimates for DDR Corp. in a report issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings of $1.15 per share for the year, up from their previous forecast of $1.14. Boenning Scattergood has a “Hold” rating on the stock.

A number of other research firms also recently issued reports on DDR. Jefferies Group LLC reiterated a “hold” rating and set a $13.00 target price on shares of DDR Corp. in a research report on Monday, April 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $14.00 target price on shares of DDR Corp. in a research report on Thursday, April 27th. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and boosted their target price for the company from $12.00 to $13.00 in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday. Finally, BidaskClub upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.32.

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DDR Corp. (NYSE DDR) traded up 0.245% during midday trading on Monday, reaching $10.215. 1,271,246 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $9.32 and its 200 day moving average price is $11.65. The firm’s market cap is $3.75 billion. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.86.

DDR Corp. (NYSE:DDR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a positive return on equity of 1.22% and a negative net margin of 5.48%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share.

Several hedge funds have recently made changes to their positions in DDR. Janney Montgomery Scott LLC purchased a new stake in shares of DDR Corp. during the second quarter valued at approximately $121,000. Greenleaf Trust purchased a new stake in shares of DDR Corp. during the second quarter valued at approximately $123,000. Parametrica Management Ltd purchased a new stake in shares of DDR Corp. during the second quarter valued at approximately $127,000. Stratos Wealth Partners LTD. purchased a new stake in shares of DDR Corp. during the second quarter valued at approximately $139,000. Finally, Oxford Asset Management purchased a new stake in shares of DDR Corp. during the first quarter valued at approximately $163,000. Institutional investors own 82.76% of the company’s stock.

In other news, CEO David R. Lukes bought 170,000 shares of the stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $9.48 per share, for a total transaction of $1,611,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 372,948 shares in the company, valued at approximately $3,535,547.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Katharina Otto-Bernstein bought 500,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was purchased at an average price of $9.40 per share, with a total value of $4,700,000.00. Following the acquisition, the insider now owns 16,255,505 shares of the company’s stock, valued at $152,801,747. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,355,325 shares of company stock worth $12,692,310. Corporate insiders own 16.20% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.76 annualized dividend and a yield of 7.46%. DDR Corp.’s payout ratio is -379.98%.

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).

Earnings History and Estimates for DDR Corp. (NYSE:DDR)

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