NEW YORK (Reuters) - 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)