DDR Corp (DDR) Expected to Post Quarterly Sales of $200.44 Million

Analysts expect DDR Corp (NYSE:DDR) to announce $200.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for DDR’s earnings, with estimates ranging from $197.79 million to $202.71 million. DDR reported sales of $230.98 million during the same quarter last year, which indicates a negative year over year growth rate of 13.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, April 24th.

According to Zacks, analysts expect that DDR will report full-year sales of $200.44 million for the current financial year, with estimates ranging from $767.30 million to $868.07 million. For the next fiscal year, analysts forecast that the business will report sales of $820.37 million per share, with estimates ranging from $757.12 million to $884.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow DDR.

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DDR (NYSE:DDR) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. DDR had a negative net margin of 27.22% and a negative return on equity of 5.56%. The firm had revenue of $209.43 million during the quarter, compared to analysts’ expectations of $205.20 million. During the same period in the previous year, the business posted $0.30 EPS. The business’s revenue was down 9.8% compared to the same quarter last year.

Several equities research analysts recently commented on DDR shares. Raymond James Financial reissued a “buy” rating on shares of DDR in a report on Friday, December 15th. Citigroup reissued a “buy” rating on shares of DDR in a report on Friday, December 15th. Morgan Stanley reissued an “equal weight” rating and issued a $8.25 price target on shares of DDR in a report on Thursday, December 14th. Capital One Financial reissued an “equal weight” rating on shares of DDR in a report on Friday, December 15th. Finally, Mizuho set a $9.00 price target on shares of DDR and gave the stock a “hold” rating in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $9.60.

In other DDR news, Director Alexander Otto bought 377,331 shares of the company’s stock in a transaction dated Wednesday, March 28th. The stock was acquired at an average price of $7.24 per share, with a total value of $2,731,876.44. Following the completion of the acquisition, the director now directly owns 51,754,895 shares of the company’s stock, valued at $374,705,439.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 4,316,039 shares of company stock valued at $32,073,611 in the last ninety days. Insiders own 16.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of DDR by 6.0% during the fourth quarter. BlackRock Inc. now owns 23,293,640 shares of the real estate investment trust’s stock worth $208,709,000 after buying an additional 1,316,913 shares in the last quarter. Brookfield Asset Management Inc. grew its holdings in shares of DDR by 24.7% during the fourth quarter. Brookfield Asset Management Inc. now owns 12,769,670 shares of the real estate investment trust’s stock worth $114,416,000 after buying an additional 2,532,900 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of DDR by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 10,055,427 shares of the real estate investment trust’s stock valued at $90,097,000 after purchasing an additional 1,064,901 shares during the period. LSV Asset Management grew its holdings in shares of DDR by 18.4% in the fourth quarter. LSV Asset Management now owns 7,377,400 shares of the real estate investment trust’s stock valued at $66,101,000 after purchasing an additional 1,148,978 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of DDR by 28.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,931,238 shares of the real estate investment trust’s stock valued at $62,105,000 after purchasing an additional 1,553,982 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.

NYSE DDR traded up $0.04 on Friday, hitting $7.33. The company had a trading volume of 6,391,530 shares, compared to its average volume of 4,706,133. The firm has a market cap of $2,705.86, a PE ratio of 6.21, a PEG ratio of 1.46 and a beta of 0.61. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.82 and a current ratio of 0.82. DDR has a 12-month low of $6.76 and a 12-month high of $13.00.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.37%. The ex-dividend date of this dividend is Thursday, March 15th. DDR’s payout ratio is 64.41%.

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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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Earnings History and Estimates for DDR (NYSE:DDR)

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