Zacks: Brokerages Expect DDR Corp. (DDR) to Announce $0.28 EPS

Analysts expect that DDR Corp. (NYSE:DDR) will report earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for DDR Corp.’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.27. DDR Corp. posted earnings of $0.33 per share in the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The firm is expected to announce its next earnings report on Tuesday, July 25th.

On average, analysts expect that DDR Corp. will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.09 to $1.15. For the next year, analysts expect that the company will post earnings of $1.06 per share, with EPS estimates ranging from $0.94 to $1.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow DDR Corp..

DDR Corp. (NYSE:DDR) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. DDR Corp. had a positive return on equity of 1.60% and a negative net margin of 4.17%. The company had revenue of $230.98 million for the quarter, compared to analysts’ expectations of $230.91 million. During the same period last year, the business earned $0.31 EPS. DDR Corp.’s quarterly revenue was down 6.2% compared to the same quarter last year.

Several brokerages recently weighed in on DDR. Zacks Investment Research cut DDR Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of DDR Corp. in a research note on Tuesday. Mizuho upped their price target on DDR Corp. to $15.00 and gave the stock a “neutral” rating in a research note on Monday, March 6th. Canaccord Genuity reduced their price target on DDR Corp. from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, February 24th. Finally, ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.93.

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In related news, COO Michael Makinen bought 11,325 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $8.83 per share, with a total value of $99,999.75. Following the completion of the purchase, the chief operating officer now owns 66,361 shares in the company, valued at approximately $585,967.63. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Louis Ostrower bought 53,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $9.46 per share, for a total transaction of $501,380.00. Following the completion of the purchase, the chief financial officer now owns 108,036 shares of the company’s stock, valued at approximately $1,022,020.56. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,244,325 shares of company stock worth $11,788,580. Insiders own 16.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of DDR Corp. by 4,057.9% in the first quarter. BlackRock Inc. now owns 20,681,069 shares of the real estate investment trust’s stock worth $259,135,000 after buying an additional 20,183,679 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of DDR Corp. by 13,961.6% in the first quarter. Principal Financial Group Inc. now owns 5,743,758 shares of the real estate investment trust’s stock worth $71,970,000 after buying an additional 5,702,911 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of DDR Corp. by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock worth $290,325,000 after buying an additional 4,348,169 shares during the last quarter. Morgan Stanley increased its position in shares of DDR Corp. by 189.5% in the first quarter. Morgan Stanley now owns 3,763,059 shares of the real estate investment trust’s stock worth $47,151,000 after buying an additional 2,463,134 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of DDR Corp. during the fourth quarter worth about $34,076,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DDR Corp. (DDR) traded down 1.81% during trading on Thursday, hitting $8.66. The company had a trading volume of 10,502,956 shares. The company’s 50 day moving average is $9.29 and its 200 day moving average is $12.86. The firm’s market capitalization is $3.17 billion. DDR Corp. has a 1-year low of $8.28 and a 1-year high of $19.92.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.78%. DDR Corp.’s dividend payout ratio is currently -475.00%.

About DDR Corp.

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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