NEW YORK Shares of DDR Corp (DDR.N) could rally as the real estate investment trust seeks more potentially profitable tenants at a time when few new strips malls are hitting the market, Barron's said in its March 30 edition published on Sunday.
The shares, which closed at $16.32 on Friday, could rally to $20 within the next 12 months, the newspaper said, a jump of about 22.5 percent.
The strip mall manager is improving its lineup of tenants by focusing on growing companies such as apparel company TJX Companies Inc (TJX.N), teen retailer Five Below Inc (FIVE.O) and retailer Dick's Sporting Goods Inc (DKS.N) and by reducing the number of booksellers and other retailers facing pressure from the Internet, the newspaper said.
Another potential positive for DDR: Better-than-expected results in a roughly $3.5 billion bond sale on March 11 for Puerto Rico, which accounted for 13 percent of the company's net operating income, could boost the economy in the U.S. territory, Barron's said. <USN:nL2N0M91EM>
(Reporting by David Randall; Editing by Jonathan Oatis)