Downgrade Alert for DDR (DDR)
DDR (NYSE:DDR) was downgraded from Outperform to Neutral at Boenning & Scattergood today. The stock closed yesterday at $16.37 on volume of 2.8 million shares, above average daily volume of 2.4 million.
DDR has overhead space with shares priced $16.37, or 13.7% below the average consensus analyst price target of $18.96. The stock should find initial resistance at its 200-day moving average (MA) of $16.57 and further resistance at its 50-day MA of $17.36.
DDR share prices have moved between a 52-week high of $19.92 and a 52-week low of $14.71 and closed yesterday at 11% above that low price at $16.37 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.
DDR Corporation is a real estate investment trust that develops, leases, and manages shopping centers. The Company's properties are located primarily in the East and Midwest United States as well as joint venture properties in Brazil.
SmarTrend recommended that its subscribers protect gains by selling shares of DDR on September 12th, 2016 by issuing a Downtrend alert when the shares were trading at $18.25. Since that call, shares of DDR have fallen 10.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades