DDR Corp (DDR) Q3 FFO Beats Estimates, Stock Up More Than 6%
Zacks Investment Research | Nov 02, 2017 10:59PM ET
DDR Corp.’s (NYSE:DDR) third-quarter 2017 funds from operations (FFO) per share of 30 cents surpassed the Zacks Consensus Estimate of 27 cents. However, the figure declined 3 cents from the prior-year quarter.
Results reflect higher-than-expected business in the company’s Continental U.S. portfolio and balance-sheet improvement efforts. However, the dilutive effect of deleveraging generated through sale of assets was primarily responsible for the decline in FFO from the prior-year quarter.
The company generated revenues of $220.1 million for the third quarter, marginally missing the Zacks Consensus Estimate of $222.2 million. The figure also came in lower than $245.2 million recorded in the year-ago quarter.
Amid these, shares of DDR Corp. climbed 6.68% to $8.30 during regular trading session on Nov 2.
DDR Corp. Price, Consensus and EPS Surprise
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