UPDATE: Morgan Stanley Reiterates on DDR as 'Prime' Strategy is Paying Off
In a report published Thursday, Morgan Stanley analyst Haendel E. St. Juste reiterated an Overweight rating on DDR (NYSE: DDR), but removed the $19.00 price target.
In the report, Morgan Stanley noted, “DDR delivered an in-line quarter and reiterated 2014 guidance, as underlying operating metrics reflect a higher quality portfolio and pay testament to the progress DDR has made via its 'Prime' strategy. Meanwhile, newly structured JV deals with a ‘right of first offer' option present attractive opportunities for DDR to further enhance its asset base. All told, we believe DDR's portfolio is positioned to produce consistent n/t NOI growth of 2.5%- 3.5%, well ahead of the strip sector's l/t NOI avg growth of ~2%. This, combined with DDR's attractive relative valuation, supports our OW rating.”
DDR closed on Wednesday at $15.90.
Latest Ratings for DDR
|Oct 2016||Boenning & Scattergood||Downgrades||Outperform||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.