Brokerages Set DDR Corp (DDR) Target Price at $14.93

DDR Corp (NYSE:DDR) has earned an average rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $14.93.

DDR has been the topic of a number of recent research reports. ValuEngine raised shares of DDR from a “strong sell” rating to a “sell” rating in a research report on Monday, June 18th. Zacks Investment Research downgraded shares of DDR from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 19th. Stifel Nicolaus reduced their target price on shares of DDR from $17.00 to $14.25 and set a “hold” rating on the stock in a research report on Tuesday, July 3rd. Morgan Stanley reduced their target price on shares of DDR from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $14.00 target price on shares of DDR in a research report on Friday, July 27th.

NYSE:DDR opened at $11.99 on Wednesday. The stock has a market capitalization of $2.47 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 1.64 and a beta of 0.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.66. DDR has a 1-year low of $10.95 and a 1-year high of $15.08.

DDR (NYSE:DDR) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $204.32 million for the quarter, compared to the consensus estimate of $200.65 million. DDR had a negative net margin of 32.65% and a negative return on equity of 6.72%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. On average, analysts forecast that DDR will post 1.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Wednesday, September 26th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 6.67%. This is an increase from DDR’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, September 25th. DDR’s dividend payout ratio is 33.90%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of DDR by 4.5% during the 1st quarter. BlackRock Inc. now owns 24,352,362 shares of the real estate investment trust’s stock valued at $178,501,000 after acquiring an additional 1,058,722 shares during the last quarter. HG Vora Capital Management LLC boosted its holdings in shares of 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 valued at $91,625,000 after acquiring an additional 4,500,000 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of DDR by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 9,227,557 shares of the real estate investment trust’s stock valued at $67,638,000 after acquiring an additional 1,338,345 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of DDR by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,949,494 shares of the real estate investment trust’s stock valued at $36,280,000 after acquiring an additional 58,833 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of DDR by 6.5% during the 1st quarter. Northern Trust Corp now owns 3,545,379 shares of the real estate investment trust’s stock valued at $25,988,000 after acquiring an additional 215,141 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

About DDR

DDR is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.

Further Reading: Diversification

Analyst Recommendations for DDR (NYSE:DDR)

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