Power Up Your Portfolio With This Power Center REIT
at CNBC.com (Aug 14, 2014)
PR Newswire (Jul 30, 2014)
PR Newswire (Jul 16, 2014)
PR Newswire (Jul 1, 2014)
at CNBC.com (Jun 12, 2014)
PR Newswire (Jun 12, 2014)
PR Newswire (Jun 11, 2014)
PR Newswire (Jun 10, 2014)
PR Newswire (May 29, 2014)
PR Newswire (May 28, 2014)
at CNBC.com (Apr 9, 2013)
Wed, Jul. 30, 4:57 PM
- Q2 FFO of $0.28 per share up 3.7% from a year ago. Dividend is $01.6.
- Portfolio leased rate up 80 bps Y/Y to 95.3%.
- Positive new leasing spreads of 18.8% on a pro rata basis; positive renewal leasing spreads of 7.5% on a pro rata basis.
- Same store NOI growth of 3.2%.
- Acquired $265M of prime power centers; sold $79M of non-prime assets.
- JV with Blackstone to acquire 76 shopping centers is expected to close in Q3.
- Guidance is unchanged with operating FFO per share still expected at $1.14-$1.18.
- Conference call tomorrow at 10 ET
- Previously: DDR FFO in-line, misses on revenue\
- DDR flat AH
Wed, Jul. 30, 4:49 PM
Tue, Jul. 29, 5:35 PM
- ABX, AEL, AEM, AKAM, ALB, ALL, ALLE, AMC, ANIK, ARII, ASGN, ATEN, ATW, AUY, AVG, BALT, BGC, BMRN, CATM, CAVM, CBT, CENX, CHDN, CJES, CLUB, CMO, CNL, CNW, CODE, COHR, CTRP, CW, CWT, DDR, DRE, DRIV, EGN, EHTH, ELGX, ENTR, EQIX, EQY, ESRT, ESV, EXL, EXR, FBHS, FEIC, FISH, FMC, FNF, FOE, FORM, FORR, GLUU, HIG, HK, HOLX, HOS, HR, HTH, INT, IPI, ISIL, KBR, KEX, KGC, KRFT, KS, LGCY, LNC, LOCK, LPSN, LRCX, MAA, MANT, MDAS, MEOH, MET, MOBL, MOH, MTGE, MTW, MUR, NANO, NE, NEWP, NOW, OI, OTEX, PDM, PEIX, PGTI, PPC, PVA, QUIK, RKUS, ROVI, RRTS, SAM, SBRA, SCI, SFLY, SIMG, SPN, SPRT, SSS, STAA, STAG, STMP, STR, SU, SZYM, TCO, TGB, TGI, TS, TSO, TTEK, TTMI, TWTC, UNM, VGR, VPRT, WDC, WFM, WLL, WMB, WPZ, WSTL, WTW, YELP
Thu, Jul. 3, 10:51 AM
- DDR Corp. is offering a portfolio of 11 retail properties with 1.5M square feet in New York, Georgia, and Ohio, with an expected sale price in the area of $165M, or $112 per square foot. The broker is HFF (HF +0.9%).
- The portfolio is set to generate $12.8M of cash flow this year, based on its 94.2% occupancy.
- The properties serve as collateral for $129M of loans which were slated to mature in November, but look like they'll get paid off early.
- Previously: DDR continues portfolio changes with $660M of deals in Q2
Tue, Jul. 1, 8:54 AM
- DDR closed the purchases of four prime power centers in Q2, and also has another asset in Philadelphia and a portfolio of 76 properties from American Realty Capital under contract.
- In other Q2 action, the company sold 11 operating assets and six land parcels for $51M and closed on the sale of 50% ownership in another for $344M. DDR currently has 25 assets totaling $369M under contract for sale.
- "We intend to remain net sellers this year, and will use the proceeds to reinvest in prime power centers in top MSAs at opportunistic pricing where our operating platform can create outsized returns," says CFO David Oakes, noting "cap rates continue to compress."
- Source: Press Release
Thu, Jun. 12, 6:55 AM
- Before just having a letter of intent, American Realty Capital Properties (ARCP) now has a formal agreement of sale to move its multi-tenant shopping center portfolio to a Blackstone (BX) fund and DDR Corp. for $1.975B in cash.
- The sale is expected to close in Q3.
- Source: Press Release
- Previously: The spin off is off; American Realty to sell multi-tenant shopping center portfolio
Thu, May. 29, 8:31 AM
- Sears (or pick your favorite struggling retailer) is out, Trader Joe's is in.
- "A multi-year proactive lease termination initiative aimed at recapturing high-quality anchor store locations across its portfolio,' DDR Corp. will get together with its retail tenants to "right-size their" spaces ahead of lease expirations.
- The company hopes to regain control of the prime spots in their malls and remarket them to faster-growing retailers at far higher rents.
- For Phase one, DDR has identified 90 anchor locations representing 3.3M square feet of prime retail space, and has finalized terms for recapture on 21 of them.
- Source: Press Release
Thu, May. 15, 8:54 AM
Tue, May. 6, 4:41 PM
Mon, May. 5, 5:35 PM
- ACLS, AFG, AGU, ALL, AMTG, ARC, ARRS, ATVI, AVNR, AVNW, AWR, BEAT, BID, BIO, CENT, CHUY, CNVR, CODE, CPT, CSU, CYH, CYNI, DDR, DIS, DLR, DPM, DTLK, EA, EGAN, ENPH, ETE, ETP, EXTR, FEYE, FMC, FNGN, FRGI, FSLR, FST, FTR, GALE, GHDX, GNC, GNMK, GRPN, IAG, ICUI, IMI, JIVE, LBTYA, LGCY, LLNW, LYV, MCHP, MITT, MOVE, MPO, MRO, MTDR, MYGN, NYMT, OCLR, OKE, OKS, PBPB, PEGA, PSEC, PXD, PZZA, QGEN, QUAD, RDN, REGI, RGP, RLOC, RP, SAAS, SAPE, SGMO, SPA, SSNI, SXL, THOR, THRX, TRIP, TRMB, TRMR, TSRA, WES, WFM, WTI, ZAGG, ZU.
Wed, Feb. 12, 4:24 PM
Wed, Feb. 12, 12:10 AM
Tue, Feb. 11, 5:35 PM
Wed, Jan. 22, 3:12 PM
- Tuesday's news of Sears closing its flagship downtown Chicago store comes on the heels of closings announced by Macy's and J.C. Penney, and is followed by today's word of job cuts at Target HQ.
- These are just the beginning (continuation really) of a wave of similar actions likely to cause an average shrinkage in overall retail square footage of between one-third and one-half over the next 5-10 years, says Excess Space Retail Services' Michael Burden.
- "Stores are making a long-term bet on technology," says Belus Capital Advisors analyst Brian Sozzi. "It simply doesn't make strategic sense to enter a new 15-year lease as consumers are likely to continue curtailing physical visits to the mall."
- Keep an aye on the shopping center vacancy rate. It rose 550 basis points to 11% in the Great Recession, but has since recovered to just 8.9%. Will it make a higher high in the next downturn?
- Within the closings is another trend - indoor malls are faring worse than outlet centers, outdoor malls, or stand-alone stores. Without a major reinvention, says Rick Caruso of Caruso Affiliated, traditional malls will go extinct. He's unaware of an indoor mall being build since 2006. "Any time you stop building a product, that's usually the best indication that the customer doesn't want it anymore."
- Retail space REITs: O, NNN
- Mall REITs: SPG, GGP, BRX
- Shopping center/outlet REITs: ROIC, RPAI, IRC, KIM, FRT, DDR, SKT, WHLR
Mon, Jan. 6, 8:07 AM
Nov. 7, 2013, 9:54 AM
DDR vs. ETF Alternatives
DDR Corp is a self-administered and self-managed REIT operating as a fully integrated real estate company. It owns and manages approximately 396 value-oriented shopping centers representing 108 million square feet in 39 states and Puerto Rico.
Other News & PR