Brookfield Asset Management Inc. raised its stake in shares of DDR Corp. (NYSE:DDR) by 2.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 883,500 shares of the real estate investment trust’s stock after buying an additional 24,000 shares during the period. Brookfield Asset Management Inc.’s holdings in DDR Corp. were worth $15,399,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in DDR. Verition Fund Management LLC boosted its position in shares of DDR Corp. by 57.3% in the third quarter. Verition Fund Management LLC now owns 56,433 shares of the real estate investment trust’s stock valued at $984,000 after buying an additional 20,549 shares during the last quarter. Security Capital Research & Management Inc. boosted its position in shares of DDR Corp. by 1.0% in the third quarter. Security Capital Research & Management Inc. now owns 3,164,730 shares of the real estate investment trust’s stock valued at $55,161,000 after buying an additional 32,499 shares during the last quarter. Kemper Corp Master Retirement Trust boosted its position in shares of DDR Corp. by 1.3% in the third quarter. Kemper Corp Master Retirement Trust now owns 34,130 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 450 shares during the last quarter. Clinton Group Inc. boosted its position in shares of DDR Corp. by 120.9% in the third quarter. Clinton Group Inc. now owns 430,805 shares of the real estate investment trust’s stock valued at $7,509,000 after buying an additional 235,792 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of DDR Corp. by 96.4% in the third quarter. Lazard Asset Management LLC now owns 29,341 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 14,400 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.
DDR Corp. (NYSE:DDR) opened at 14.84 on Wednesday. DDR Corp. has a 52-week low of $14.67 and a 52-week high of $19.92. The stock’s 50 day moving average is $15.14 and its 200-day moving average is $16.38. The company has a market capitalization of $5.42 billion, a P/E ratio of 57.74 and a beta of 0.83.
DDR Corp. (NYSE:DDR) last released its quarterly earnings results on Monday, February 13th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.26. DDR Corp. had a net margin of 6.19% and a return on equity of 1.98%. The company earned $232.20 million during the quarter, compared to the consensus estimate of $241.73 million. During the same period in the prior year, the firm earned $0.31 earnings per share. DDR Corp.’s revenue was down 5.8% on a year-over-year basis. Analysts predict that DDR Corp. will post $0.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Thursday, March 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Tuesday, March 14th. DDR Corp.’s payout ratio is currently 690.97%.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, February 1st. Citigroup Inc. raised shares of DDR Corp. from a “neutral” rating to a “buy” rating in a research report on Monday, January 30th. Morgan Stanley cut shares of DDR Corp. from an “equal weight” rating to an “underweight” rating in a research report on Monday, December 12th. They noted that the move was a valuation call. Mizuho raised shares of DDR Corp. from an “underperform” rating to a “neutral” rating and set a $15.00 price target on the stock in a research report on Monday, November 7th. Finally, Boenning Scattergood cut shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $15.50 price target on the stock. in a research report on Tuesday, October 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.77.
In related news, Director Alexander Otto purchased 84,000 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The stock was bought at an average cost of $14.86 per share, with a total value of $1,248,240.00. Following the completion of the purchase, the director now directly owns 42,643,627 shares in the company, valued at $633,684,297.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders purchased 388,699 shares of company stock valued at $5,798,871. 16.20% of the stock is owned by 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.
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