DDR (DDR) Stock Price Down 6.4%

DDR Corp (NYSE:DDR) shares fell 6.4% during mid-day trading on Friday . The company traded as low as $13.33 and last traded at $13.40. 4,701,230 shares changed hands during trading, an increase of 77% from the average session volume of 2,651,980 shares. The stock had previously closed at $14.31.

A number of research firms recently issued reports on DDR. Robert W. Baird reiterated a “hold” rating and set a $14.00 price objective on shares of DDR in a report on Friday, July 27th. Evercore ISI downgraded DDR from an “in-line” rating to an “underperform” rating in a report on Monday, June 11th. ValuEngine upgraded DDR from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 22nd. Stifel Nicolaus increased their price objective on DDR from $7.25 to $15.50 and gave the stock a “hold” rating in a report on Thursday, May 24th. Finally, Zacks Investment Research downgraded DDR from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 19th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.56.

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.66. The stock has a market cap of $2.62 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.75 and a beta of 0.49.

DDR (NYSE:DDR) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. DDR had a negative return on equity of 6.72% and a negative net margin of 32.65%. The firm had revenue of $204.32 million during the quarter, compared to analysts’ expectations of $200.65 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. equities research analysts anticipate that DDR Corp will post 1.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Wednesday, September 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 25th. This is a boost from DDR’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 5.97%. DDR’s dividend payout ratio is 64.41%.

In related news, Director Alexander Otto purchased 236,237 shares of DDR stock in a transaction that occurred on Monday, June 18th. The stock was purchased at an average cost of $17.09 per share, with a total value of $4,037,290.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 2,479,887 shares of company stock valued at $44,137,608 over the last three months. Insiders own 17.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDR. Mackay Shields LLC acquired a new stake in shares of DDR in the first quarter valued at approximately $716,000. American Century Companies Inc. acquired a new stake in shares of DDR in the first quarter valued at approximately $173,000. Robeco Institutional Asset Management B.V. lifted its position in shares of DDR by 202.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 403,544 shares of the real estate investment trust’s stock valued at $2,984,000 after buying an additional 270,079 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of DDR by 10.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,366,964 shares of the real estate investment trust’s stock valued at $32,010,000 after buying an additional 411,964 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of DDR by 30.7% in the first quarter. Neuberger Berman Group LLC now owns 429,747 shares of the real estate investment trust’s stock valued at $3,150,000 after buying an additional 100,966 shares during the last quarter. 81.78% of the stock is owned by institutional investors.

About DDR (NYSE: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.

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