Vanguard Group Inc. boosted its position in DDR Corp. (NYSE:DDR) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,531,204 shares of the real estate investment trust’s stock after buying an additional 1,523,294 shares during the period. Vanguard Group Inc. owned about 12.75% of DDR Corp. worth $844,076,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in DDR Corp. by 47.5% in the first quarter. Goldman Sachs Group Inc. now owns 16,889,918 shares of the real estate investment trust’s stock valued at $300,472,000 after buying an additional 5,439,863 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in DDR Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,606,576 shares of the real estate investment trust’s stock valued at $206,481,000 after buying an additional 198,121 shares during the period. Shinko Asset Management Co. Ltd. boosted its stake in DDR Corp. by 14.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,338,660 shares of the real estate investment trust’s stock valued at $187,543,000 after buying an additional 1,314,310 shares during the period. State Street Corp boosted its stake in DDR Corp. by 3.7% in the first quarter. State Street Corp now owns 8,759,791 shares of the real estate investment trust’s stock valued at $155,838,000 after buying an additional 309,326 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in DDR Corp. by 54.5% in the second quarter. Victory Capital Management Inc. now owns 4,871,667 shares of the real estate investment trust’s stock valued at $88,373,000 after buying an additional 1,717,714 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) traded down 0.252% on Tuesday, hitting $17.845. 1,410,362 shares of the company traded hands. DDR Corp. has a 12 month low of $15.09 and a 12 month high of $19.92. The firm has a market capitalization of $6.51 billion, a P/E ratio of 29.941 and a beta of 1.04. The stock’s 50-day moving average is $18.43 and its 200 day moving average is $18.03.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The business earned $245.90 million during the quarter, compared to analysts’ expectations of $243.03 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that DDR Corp. will post $1.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Wednesday, September 21st. DDR Corp.’s dividend payout ratio is presently 126.67%.
Several equities research analysts have issued reports on the stock. Raymond James Financial Inc. assumed coverage on shares of DDR Corp. in a research report on Monday, July 25th. They issued an “outperform” rating and a $21.00 price objective for the company. Credit Suisse Group AG cut shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price objective for the company. in a research report on Wednesday, July 27th. Jefferies Group reissued a “hold” rating and issued a $19.00 price objective on shares of DDR Corp. in a research report on Wednesday, July 27th. Deutsche Bank AG boosted their price objective on shares of DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, July 18th. Finally, Citigroup Inc. boosted their price objective on shares of DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.77.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of DDR Corp. stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $19.50, for a total transaction of $312,000.00. Following the completion of the sale, the director now directly owns 51,954 shares in the company, valued at $1,013,103. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott D. Roulston purchased 5,500 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were bought at an average price of $18.61 per share, with a total value of $102,355.00. Following the completion of the transaction, the director now owns 18,723 shares of the company’s stock, valued at $348,435.03. The disclosure for this purchase can be found here. Company insiders own 16.20% of the company’s stock.
About DDR Corp.
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.
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