DDR Corp (DDR) is Downgraded by BofA/Merrill to Underperform

DDR Corp (DDR) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 25, 2016.

Many Wall Street Analysts have commented on DDR Corp. Company shares were Reiterated by Canaccord Genuity on Aug 16, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .DDR Corp was Downgraded by Credit Suisse to ” Neutral” on Jul 27, 2016. Raymond James Initiated DDR Corp on Jul 26, 2016 to “Outperform”, Price Target of the shares are set at $21.

On the company’s financial health, DDR Corp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $246.30 million for the quarter, compared to analysts expectations of $249.54 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

DDR Corp closed down -0.05 points or -0.27% at $18.54 with 13,64,115 shares getting traded on Tuesday. Post opening the session at $18.65, the shares hit an intraday low of $18.54 and an intraday high of $18.715 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 2, 2016, Victor B Macfarlane (director) sold 38,996 shares at $19.34 per share price. According to the SEC, on Aug 2, 2016, Robert H Gidel (director) sold 16,000 shares at $19.50 per share price. On Jun 28, 2016, Christa A Vesy (Exec. V.P. & Chief Acct. Off.) sold 5,000 shares at $17.38 per share price, according to the Form-4 filing with the securities and exchange commission.

DDR Corp. (DDR) is a self-administered and self-managed real estate investment trust (REIT). The Company is in the business of acquiring owning developing redeveloping expanding leasing and managing shopping centers. In addition the Company engages in the origination and acquisition of loans and debt securities which are generally collateralized directly or indirectly by shopping centers. The Company owns and manages approximately 415 shopping centers representing 118 million square feet in 41 states and Puerto Rico. DDR has completed 53 redevelopment projects. Its properties include Eastland Center in California Easton Market in Ohio and The Maxwell in Illinois.

DDR Corp

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