Capital Fund Management S.A. acquired a new stake in shares of DDR Corp. (NYSE:DDR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 83,401 shares of the real estate investment trust’s stock, valued at approximately $1,513,000.
A number of other institutional investors have also recently made changes to their positions in DDR. Canada Pension Plan Investment Board raised its position in shares of DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 100 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of DDR Corp. by 7.8% in the second quarter. Gateway Investment Advisers LLC now owns 14,563 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 1,051 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of DDR Corp. by 1.0% in the first quarter. BlackRock Japan Co. Ltd now owns 16,176 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 154 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of DDR Corp. during the second quarter valued at approximately $328,000. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of DDR Corp. by 1.0% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 21,300 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 219 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.
DDR Corp. (NYSE:DDR) traded down 0.24% during midday trading on Friday, hitting $16.40. The company’s stock had a trading volume of 2,754,568 shares. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 27.52 and a beta of 1.00. DDR Corp. has a one year low of $15.36 and a one year high of $19.92. The company’s 50-day moving average is $17.98 and its 200 day moving average is $18.01.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $245.90 million for the quarter, compared to the consensus estimate of $243.03 million. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that DDR Corp. will post $1.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders 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 4.63%. The ex-dividend date is Wednesday, September 21st. DDR Corp.’s payout ratio is 126.67%.
Several research firms have recently issued reports on DDR. Jefferies Group began coverage on DDR Corp. in a research report on Thursday, June 30th. They issued a “hold” rating and a $19.00 price target for the company. Canaccord Genuity reaffirmed a “hold” rating on shares of DDR Corp. in a research report on Monday, July 11th. KeyCorp set a $21.00 price target on DDR Corp. and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank AG lifted their price target on DDR Corp. from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, July 18th. Finally, Credit Suisse Group AG lowered DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price target for the company. in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. DDR Corp. presently has a consensus rating of “Hold” and an average target price of $19.04.
In related news, Director Scott D. Roulston acquired 5,500 shares of the company’s stock in a transaction that occurred 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 directly owns 18,723 shares in the company, valued at $348,435.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Gidel sold 16,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $19.50, for a total value of $312,000.00. Following the sale, the director now directly owns 51,954 shares in the company, valued at approximately $1,013,103. The disclosure for this sale can be found here. 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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