Last $17.98 USD
Change Today -0.05 / -0.28%
Volume 1.1M
DDR On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

ddr corp (DDR) Snapshot

Open
$17.99
Previous Close
$18.03
Day High
$18.04
Day Low
$17.92
52 Week High
08/21/14 - $18.37
52 Week Low
12/18/13 - $14.89
Market Cap
6.5B
Average Volume 10 Days
1.7M
EPS TTM
$0.14
Shares Outstanding
359.5M
EX-Date
06/10/14
P/E TM
131.7x
Dividend
$0.62
Dividend Yield
3.23%
Current Stock Chart for DDR CORP (DDR)

ddr corp (DDR) Related Businessweek News

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ddr corp (DDR) Details

DDR Corp. is an equity real estate investment trust. It invests in the real estate markets of the United States and Puerto Rico. The firm is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. It formerly known as Developers Diversified Realty Corp. DDR Corp is based in Beachwood, Ohio.

601 Employees
Last Reported Date: 02/28/14

ddr corp (DDR) Top Compensated Officers

Chief Executive Officer, Director, Chairman o...
Total Annual Compensation: $750.0K
President, Chief Financial Officer and Member...
Total Annual Compensation: $525.0K
Chief Accounting Officer, Executive Vice Pres...
Total Annual Compensation: $275.8K
Senior Executive Vice President of Leasing & ...
Total Annual Compensation: $440.0K
Compensation as of Fiscal Year 2013.

ddr corp (DDR) Key Developments

DDR Corp. Announces Consolidated and Unconsolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Operating FFO Per Share Guidance For 2014; Announces Consolidated and Unconsolidated Impairment Charges for the Second Quarter Ended June 30, 2014

DDR Corp. announced consolidated and unconsolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on the consolidated basis, the company reported total revenues of $245,781,000 against $197,509,000 a year ago. Net operating income was $173,767,000 against $138,380,000 a year ago. Loss before earnings from equity method investments and other items was $15,532,000 against income before earnings from equity method investments and other items of $1,831,000 a year ago. Net income attributable to common shareholders was $67,815,000 against loss attributable to common shareholders of $36,034,000 a year ago. Net income attributable to the company was $76,017,000 against loss attributable to the company of $23,313,000 a year ago. FFO attributable to common shareholders was $82,126,000 against $79,964,000 a year ago. Operating FFO was $101,263,000 against $86,094,000 a year ago. Diluted FFO per share was $0.23 against $0.25 a year ago. Diluted operating FFO per share was $0.28 against $0.27 a year ago. Diluted earnings per common share were $0.19 against LPS of $0.11 a year ago. Capital expenditures were $9.3 million against $10.6 million a year ago. For the sox months, on the consolidated basis, the company reported total revenues of $490,655,000 against $386,015,000 a year ago. Net operating income was $345,030,000 against $269,162,000 a year ago. Loss before earnings from equity method investments and other items was $39,162,000 against income before earnings from equity method investments and other items of $10,718,000 a year ago. Net income attributable to common shareholders was $44,567,000 against loss attributable to common shareholders of $36,761,000 a year ago. Net income attributable to the company was $59,377,000 against loss attributable to the company of $17,010,000 a year ago. FFO attributable to common shareholders was $167,938,000 against $162,480,000 a year ago. Operating FFO was $201,973,000 against $172,146,000 a year ago. Diluted FFO per share was $0.47 against $0.51 a year ago. Diluted operating FFO per share was $0.56 against $0.54 a year ago. Diluted earnings per common share were $0.12 against LPS of $0.12 a year ago. Capital expenditures were $20.6 million against $20.3 million a year ago. For the quarter, on the unconsolidated basis, the company reported total revenues of $124,289,000 against $175,029,000 a year ago. Net operating income was $79,742,000 against $113,533,000 a year ago. Loss from continuing operations was $7,453,000 against $42,784,000 a year ago. Net loss attributable to unconsolidated joint ventures was $6,323,000 against $58,094,000 a year ago. FFO was $30,602,000 against $44,429,000 a year ago. For the six months, on the unconsolidated basis, the company reported total revenues of $272,551,000 against $351,798,000 a year ago. Net operating income was $174,789,000 against $230,767,000 a year ago. Loss from continuing operations was $19,024,000 against $51,832,000 a year ago. Net income attributable to unconsolidated joint ventures was $1,411,000 against loss attributable to unconsolidated joint ventures of $82,620,000 a year ago. FFO was $61,038,000 against $89,735,000 a year ago. For the quarter, on the consolidated basis, the company reported impairment charges of $14,342,000 against $13,642,000 a year ago. For the quarter, on the unconsolidated basis, the company reported impairment charges of $600,000 against $38,323,000 a year ago. The company continues to estimate a range of $1.14 to $1.18 for 2014 operating FFO per diluted share.

DDR Corp. and Blackstone Real Estate Partners VII Form Joint Venture to Buy 76 Shopping Centers from American Realty Capital

DDR Corp. announced that it has formed a joint venture with affiliates of Blackstone Real Estate Partners VII, to acquire 76 shopping centers currently owned by American Realty Capital Properties Inc. (ARCP) in a $1.975 billion cash deal. On May 21, American Realty Capital had announced its intention to sell substantially all its multi-tenant shopping center portfolio to Blackstone for $1.975 billion in cash. DDR now announced that the joint venture has executed a purchase and sale agreement with American Realty Capital to acquire the portfolio. The deal value includes assumed debt of $461 million and approximately $800 million of new financings. The sale is expected to close by late third quarter 2014, subject to customary closing conditions. DDR announced that the non-prime asset sales within the portfolio are expected to commence thereafter as a result of active portfolio management within the joint venture. In the new joint venture, Blackstone owns 95% of the common equity, while an affiliate of DDR owns the remaining 5%. DDR will also invest up to a maximum of $300 million in preferred equity in the joint venture with a fixed dividend rate of 8.5%. DDR has agreed to provide customary leasing and management services. DDR further said that it will have the right of first offer to acquire ten of the assets under specified conditions consistent with past transactions. DDR noted that the 16.4 million square foot portfolio in the acquisition primarily consists of prime power centers located in Los Angeles, Houston, Denver, Chicago, Atlanta, Washington D.C. and Phoenix. The portfolio is 95.1% leased. In the transaction, Goldman, Sachs & Co. and KeyBanc Capital Markets served as advisors to DDR.

DDR Mulls Acquisitions

DDR Corp. (NYSE:DDR) intends to pursue acquisitions. Daniel B. Hurwitz, Chief Executive Officer of DDR, said, "We expect to generate outsized asset-level growth by leveraging our operating platform, and have appropriately structured our investment to produce attractive risk-adjusted returns while securing access to acquisition opportunities in the future."

 

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Industry Analysis

DDR

Industry Average

Valuation DDR Industry Range
Price/Earnings 100.0x
Price/Sales 6.4x
Price/Book 1.9x
Price/Cash Flow 14.1x
TEV/Sales 0.4x
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