Eaton Vance Management cut its position in shares of DDR Corp. (NYSE:DDR) by 25.0% during the second quarter, Holdings Channel reports. The fund owned 13,200 shares of the real estate investment trust’s stock after selling 4,400 shares during the period. Eaton Vance Management’s holdings in DDR Corp. were worth $239,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Aperio Group LLC boosted its stake in DDR Corp. by 5.6% in the first quarter. Aperio Group LLC now owns 87,049 shares of the real estate investment trust’s stock worth $1,549,000 after buying an additional 4,654 shares during the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in shares of DDR Corp. by 65.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 55,460 shares of the real estate investment trust’s stock worth $987,000 after buying an additional 22,000 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of DDR Corp. by 1.0% in the first quarter. TIAA CREF Investment Management LLC now owns 644,216 shares of the real estate investment trust’s stock worth $11,461,000 after buying an additional 6,459 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of DDR Corp. by 2.4% in the first quarter. Teachers Advisors Inc. now owns 2,368,706 shares of the real estate investment trust’s stock worth $42,139,000 after buying an additional 55,154 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of DDR Corp. by 57.5% in the first quarter. BlackRock Inc. now owns 430,751 shares of the real estate investment trust’s stock worth $7,663,000 after buying an additional 157,193 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded down 2.610% during trading on Monday, reaching $16.975. The company had a trading volume of 1,109,591 shares. The company has a 50 day moving average of $18.27 and a 200-day moving average of $18.03. DDR Corp. has a 52-week low of $15.36 and a 52-week high of $19.92. The firm has a market capitalization of $6.20 billion, a P/E ratio of 28.482 and a beta of 1.00.
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 (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. DDR Corp. had a return on equity of 7.76% and a net margin of 24.27%. The company earned $245.90 million during the quarter, compared to the consensus estimate of $243.03 million. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts expect that DDR Corp. will post $1.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.47%. DDR Corp.’s dividend payout ratio (DPR) is currently 126.67%.
A number of brokerages recently weighed in on DDR. Mizuho cut shares of DDR Corp. from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $19.00 to $17.00 in a research note on Monday, July 11th. Bank of America Corp. cut shares of DDR Corp. from a “buy” rating to a “neutral” rating in a research note on Monday, July 11th. Jefferies Group restated a “hold” rating on shares of DDR Corp. in a research note on Tuesday, September 13th. Canaccord Genuity restated a “hold” rating on shares of DDR Corp. in a research note on Monday, July 11th. Finally, Citigroup Inc. lifted their price objective on shares of DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. DDR Corp. has a consensus rating of “Hold” and an average price target of $18.77.
In related news, Director Robert H. Gidel sold 16,000 shares of the 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 completion of the transaction, the director now directly owns 51,954 shares in the company, valued at $1,013,103. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott D. Roulston acquired 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were purchased at an average price of $18.61 per share, with a total value of $102,355.00. Following the completion of the acquisition, the director now owns 18,723 shares of the company’s stock, valued at approximately $348,435.03. The disclosure for this purchase can be found here. 16.20% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding DDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DDR Corp. (NYSE:DDR).
Receive News & Ratings for DDR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DDR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.