Mizuho Securities Upgrades DDR Corp. (DDR) to Neutral

November 7, 2016 7:56 AM EST
Get Alerts DDR Hot Sheet
Price: $15.06 +0.27%

Rating Summary:
    7 Buy, 13 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities upgraded DDR Corp. (NYSE: DDR) from Underperform to Neutral with a price target of $15.00.

Analyst Haendel St. Juste commented, "We are upgrading DDR to Neutral from Underperform with a $15.00 price target based on an 25% discount to our $20.00 NAV estimate at a 6% cap rate. On current valuation, DDR shares trades at a meaningful discount to shopping center REIT peers, having underperformed both the RMZ and the Shopping Center sector YTD, down 12% vs -3% for the sector and -2% for the RMZ. At recent pricing, DDR trades at 74% of NAV, its widest levels since 2Q/2009, (vs Shopping Centers' Malls' 88% / REITs' 90%) and 7.0% implied cap rate (6.0% / 6.5%) above private market cap rates."

For an analyst ratings summary and ratings history on DDR Corp. click here. For more ratings news on DDR Corp. click here.

Shares of DDR Corp. closed at $14.85 yesterday.

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