The dividend is no surprise at all and it's hard to see how any investor who's looked at the numbers could be surprised by it. I have been tracking the PBT to revenue ratio. This came in at 3.45% which is around the average for this year. Assuming they can keep this ratio and revenue stays flat for next year, EPS will be ~41.5cps. At a PE of 20, this equates to a SP of $8.3. I have again taken a position in this stock as the valuation is starting to look compelling but I would be (pleasantly) not surprised if the SP fell further. $8.00 is my base line SP unless David Dicker comes out and says terrible things about the company at the results presentation. I am keen to meaningfully increase my holding in the $8s.
DDR Price at posting:
$9.49 Sentiment: None Disclosure: Not Held
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