Free Post Earnings Research Report: DDR Corp.’s Quarterly FFO per share Increased 33.33%

Stock Monitor: Wheeler REIT Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 10, 2018 / If you want access to our free earnings report on DDR Corp. (NYSE: DDR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DDR. On April 24, 2018, DDR reported financial results for the first quarter ended March 31, 2018. The Company surpassed analysts’ consensus estimates for revenues as well as operating funds from operations (FFO) in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR), which also belongs to the Financial sector as the Company DDR Corp. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DDR most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

DDR’s total revenues reached $206.96 million for Q1 FY18, reflecting a decrease of 10.40% from $230.98 million in Q1 FY17. The reported revenue number surpassed analysts’ consensus estimates of $199.30 million. The decline in total revenues was led by 12.16% decrease in minimum-rents and 10.65% decrease in recoveries in Q1 FY18.

During Q1 FY18, DDR incurred total operating expenses of $61.78 million, 8.23% lower than the $67.32 million reported in Q1 FY17. The Company’s operating and maintenance expenses declined 9.80% to $29.76 million on a y-o-y basis, while real estate taxes fell 6.72% to $32.02 million in Q1 FY18. DDR’s operating income decreased 11.29% to $145.18 million in Q1 FY18 from $163.66 million in Q1 FY17. Besides, the Company reported same store net operating income growth of 2.6% on a pro-rata basis for New DDR in Q1 FY18. New DDR results include the results of the assets that will remain in DDR after the completion of the spin-off of RVI and the previously announced disposition program of $900.

Net loss attributable to DDR’s stockholders widened to $62.54 million, or $0.17 per share, in Q1 FY18 from $59.84 million, or $0.16 per share, in Q1 FY17.

FFO attributable to DDR’s common stockholders was $29.52 million for Q1 FY18, 32.88% higher than $22.21 million in Q1 FY17. The Company’s FFO per share also increased 33.33% to $0.08 per share in the reported quarter from $0.06 per share in the previous year’s same quarter. DDR’s reported FFO included reserve of preferred equity interests, hurricane casualty loss, debt extinguishing costs, and gain on disposition of non-depreciable real estate. The Company’s operating FFO attributable to common shareholders was $97.75 million in Q1 FY18 compared to $108.53 million in Q1 FY17, reflecting a decrease of 9.94%. DDR’s operating FFO per share for the quarter under review was 0.26, 13.33% lower than the $0.30 reported in the year ago corresponding quarter. However, operating FFO for the reported quarter exceeded analysts’ consensus estimates of $0.23 per share. This y-o-y decline in operating FFO is mainly due to the dilutive impact of deleveraging asset sales partially offset by a reduction in general and administrative expenses.

Cash Matters

DDR had cash of $16.56 million at the end of Q1 FY18 compared to $92.61 million at the end of Q4 FY17.

In February 2018, DDR completed $1.35 billion of mortgage financing and repaid $452 million of mortgage debt, $900 million of aggregate principal amount of senior unsecured notes, and $200 million of unsecured term loan using proceeds from the new financing and asset sales.

Outlook

DDR’s guidance for operating FFO per share remains the same as the initial release on February 15, 2018, and the related assumptions. For the third quarter of 2018, DDR expects operating FFO to be at least $0.15 per diluted share, after an assumed spin-off date of July 2018.

Stock Performance Snapshot

May 09, 2018 – At Wednesday’s closing bell, DDR’s stock rose 2.88%, ending the trading session at $7.50.

Volume traded for the day: 4.87 million shares, which was above the 3-month average volume of 4.81 million shares.

Stock performance in the last month – up 0.27%; and previous three-month period – up 2.32%

After yesterday’s close, DDR’s market cap was at $2.74 billion.

The stock has a dividend yield of 10.13%.

The stock is part of the Financial sector, categorized under the REIT – Retail industry. This sector was up 1.1% at the end of the session.

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