Citigroup Downgrades DDR (NYSE:DDR) to Neutral

Citigroup Downgrades DDR (NYSE:DDR) to Neutral

DDR (NYSE:DDR) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, September 14th, Marketbeat reports. They presently have a $15.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $16.00. Citigroup’s target price would suggest a potential upside of 20.39% from the stock’s current price.

Several other research analysts have also commented on DDR. ValuEngine upgraded shares of DDR from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 22nd. Stifel Nicolaus lifted their price objective on shares of DDR from $7.25 to $15.50 and gave the company a “hold” rating in a research note on Thursday, May 24th. Evercore ISI lowered shares of DDR from an “in-line” rating to an “underperform” rating in a research note on Monday, June 11th. Morgan Stanley lifted their price objective on shares of DDR from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, June 14th. Finally, Zacks Investment Research lowered shares of DDR from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.19.

Shares of DDR traded down $0.61 during mid-day trading on Friday, hitting $12.46. The company had a trading volume of 3,598,100 shares, compared to its average volume of 2,558,851. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.81 and a current ratio of 0.81. DDR has a 1-year low of $10.95 and a 1-year high of $15.08. The stock has a market capitalization of $2.47 billion, a PE ratio of 5.26, a P/E/G ratio of 1.64 and a beta of 0.49.

DDR (NYSE:DDR) last posted its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. DDR had a negative net margin of 32.65% and a negative return on equity of 6.72%. The firm had revenue of $204.32 million for the quarter, compared to analyst estimates of $200.65 million. During the same quarter last year, the firm posted $0.59 earnings per share. DDR’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that DDR will post 1.63 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in DDR. Stevens Capital Management LP bought a new stake in shares of DDR during the second quarter valued at about $359,000. Ironwood Investment Management LLC bought a new stake in shares of DDR during the second quarter valued at about $401,000. SG Americas Securities LLC raised its stake in shares of DDR by 397.4% during the second quarter. SG Americas Securities LLC now owns 115,895 shares of the real estate investment trust’s stock valued at $2,075,000 after purchasing an additional 92,593 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of DDR by 80.8% during the second quarter. Tower Research Capital LLC TRC now owns 39,260 shares of the real estate investment trust’s stock valued at $703,000 after purchasing an additional 17,548 shares in the last quarter. Finally, Arrow Investment Advisors LLC bought a new stake in shares of DDR during the second quarter valued at about $574,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

About 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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