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DDR Corp. (DDR) Soars: Stock Adds 11.3% in Session
DDR Corp. was a big mover last session, as the company saw its shares rise more than 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $7.41 to $8.08 in the past one-month time frame.
The stock gained after the company announced that it will spin off a portfolio of 50 sellable assets into a separate public-traded real estate investment trust (REIT) — Retail Value Trust (“RVT”).
The company has seen three negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
DDR Corp. currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
DDR Corp. Price
DDR Corp. Price | DDR Corp. Quote
A better-ranked stock in the Finance sector is One Liberty Properties, Inc. (OLP - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is DDR going up? Or down? Predict to see what others think:Up or Down
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