DDR down nearly 9% after pulling FFO guidance, cutting NOI outlook

|About: DDR Corp. (DDR)|By:, SA News Editor

The company last night topped Q1 estimates, but cut its expectation for annual growth in same-store NOI from 1-2% to negative 1.5%-to-flat. Noted is the impact of increased vacancies from recent tenant bankruptcies.

The expected end-of-year leased rate is lowered to 93-93.5%.

FFO and Operating FFO guidance is pulled thanks to the unpredictable timing and magnitude of potential buys/sells during the year. DDR -8.8%

Other players: Retail Properties of America (RPAI -2.9%), Retail Opportunity (ROIC -1.6%), Kimco (KIM -2.4%), Federal Realty (FRT -1%), Tanger Factory (SKT -3.3%)

Previously: DDR beats by $0.01, revenue in-line (April 25)