Jefferies Group set a $8.00 price objective on DDR (NYSE:DDR) in a research report released on Tuesday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock. Jefferies Group also issued estimates for DDR’s Q1 2018 earnings at $0.26 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.23 EPS and FY2020 earnings at $1.05 EPS.
DDR has been the subject of a number of other reports. Boenning Scattergood reissued a sell rating on shares of DDR in a research note on Monday, December 18th. Royal Bank of Canada reissued a sector perform rating and set a $9.00 price target (down from $11.00) on shares of DDR in a research note on Tuesday, November 7th. Zacks Investment Research lowered DDR from a hold rating to a sell rating in a research note on Wednesday, February 21st. Morgan Stanley reissued an equal weight rating and set a $8.25 price target on shares of DDR in a research note on Thursday, December 14th. Finally, ValuEngine lowered DDR from a buy rating to a hold rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $9.65.
Shares of DDR (DDR) opened at $7.61 on Tuesday. The stock has a market capitalization of $2,942.12, a P/E ratio of -10.42, a PEG ratio of 1.59 and a beta of 0.60. DDR has a one year low of $6.77 and a one year high of $14.79. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.51.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.76 annualized dividend and a yield of 9.99%. DDR’s payout ratio is currently -104.11%.
In other news, Director Alexander Otto acquired 1,351,558 shares of DDR stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $7.81 per share, for a total transaction of $10,555,667.98. Following the acquisition, the director now directly owns 48,963,634 shares of the company’s stock, valued at approximately $382,405,981.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its holdings in DDR by 71.4% during the 3rd quarter. Prudential Financial Inc. now owns 3,161,322 shares of the real estate investment trust’s stock worth $28,958,000 after purchasing an additional 1,317,007 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in DDR by 33.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,731,487 shares of the real estate investment trust’s stock worth $34,181,000 after purchasing an additional 937,147 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in DDR by 18.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 390,000 shares of the real estate investment trust’s stock worth $3,572,000 after purchasing an additional 60,000 shares during the period. King Street Capital Management L.P. purchased a new position in DDR during the 3rd quarter worth $44,884,000. Finally, Dimensional Fund Advisors LP increased its holdings in DDR by 7.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,741,087 shares of the real estate investment trust’s stock worth $43,429,000 after purchasing an additional 337,579 shares during the period. Institutional investors own 79.17% of the company’s stock.
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DDR 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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