Advisors Asset Management Inc. decreased its stake in DDR Corp. (NYSE:DDR) by 11.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,102 shares of the real estate investment trust’s stock after selling 1,391 shares during the period. Advisors Asset Management Inc.’s holdings in DDR Corp. were worth $201,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in DDR Corp. by 38.5% in the second quarter. Ameriprise Financial Inc. now owns 394,301 shares of the real estate investment trust’s stock valued at $7,156,000 after buying an additional 109,513 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in DDR Corp. during the second quarter valued at about $8,799,000. Honeywell International Inc. raised its position in DDR Corp. by 14.3% in the second quarter. Honeywell International Inc. now owns 150,000 shares of the real estate investment trust’s stock valued at $2,721,000 after buying an additional 18,800 shares in the last quarter. Bailard Inc. raised its position in DDR Corp. by 4.1% in the second quarter. Bailard Inc. now owns 25,100 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 1,000 shares in the last quarter. Finally, Forsta AP Fonden raised its position in DDR Corp. by 258.6% in the second quarter. Forsta AP Fonden now owns 148,100 shares of the real estate investment trust’s stock valued at $2,687,000 after buying an additional 106,800 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded down 1.78% during trading on Wednesday, reaching $16.56. The company’s stock had a trading volume of 1,105,543 shares. DDR Corp. has a 12 month low of $15.36 and a 12 month high of $19.92. The firm has a market cap of $6.04 billion, a PE ratio of 27.79 and a beta of 1.00. The company’s 50 day moving average price is $18.16 and its 200 day moving average price is $18.03.
DDR Corp. (NYSE:DDR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The firm had revenue of $245.90 million for the quarter, compared to analyst estimates of $243.03 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that DDR Corp. will post $1.26 earnings per share for the current 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 $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.51%. DDR Corp.’s dividend payout ratio (DPR) is presently 126.67%.
Several analysts have recently commented on DDR shares. Zacks Investment Research upgraded DDR Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday. Jefferies Group restated a “hold” rating and set a $19.00 target price on shares of DDR Corp. in a report on Wednesday, July 27th. Canaccord Genuity increased their target price on DDR Corp. from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, August 16th. Deutsche Bank AG increased their target price on DDR Corp. from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, July 18th. Finally, BTIG Research started coverage on DDR Corp. in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.88.
In related news, Director Robert H. Gidel sold 16,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $19.50, for a total transaction of $312,000.00. Following the sale, the director now owns 51,954 shares in the company, valued at approximately $1,013,103. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott D. Roulston bought 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were acquired at an average price of $18.61 per share, for a total transaction of $102,355.00. Following the transaction, the director now owns 18,723 shares in the company, valued at $348,435.03. The disclosure for this purchase can be found here. 16.20% of the stock is owned by company insiders.
DDR Corp. Company Profile
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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