Ameriprise Financial Inc. increased its stake in DDR Corp. (NYSE:DDR) by 38.5% during the second quarter, Holdings Channel reports. The firm owned 394,301 shares of the real estate investment trust’s stock after buying an additional 109,513 shares during the period. Ameriprise Financial Inc. owned about 0.11% of DDR Corp. worth $7,156,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of 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. 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 during the period. BlackRock Inc. raised its position 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 valued at $7,663,000 after buying an additional 157,193 shares during the period. Boothbay Fund Management LLC raised its position in shares of DDR Corp. by 73.0% in the first quarter. Boothbay Fund Management LLC now owns 56,176 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 23,707 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of DDR Corp. during the second quarter valued at $8,799,000. 89.81% of the stock is owned by institutional investors.
DDR Corp. (NYSE:DDR) traded down 0.24% during mid-day trading on Friday, reaching $16.40. 2,754,568 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $17.98 and its 200-day moving average price is $18.01. DDR Corp. has a 52 week low of $15.36 and a 52 week high of $19.92. The company has a market capitalization of $5.99 billion, a P/E ratio of 27.52 and a beta of 1.00.
DDR Corp. (NYSE:DDR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm earned $245.90 million during the quarter, compared to the consensus estimate of $243.03 million. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. On average, equities research analysts expect that DDR Corp. will post $1.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors 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 yield of 4.63%. The ex-dividend date is Wednesday, September 21st. DDR Corp.’s dividend payout ratio (DPR) is presently 126.67%.
Several research firms have recently commented on DDR. Jefferies Group began coverage on shares of DDR Corp. in a research note on Thursday, June 30th. They issued a “hold” rating and a $19.00 price objective for the company. Canaccord Genuity reissued a “hold” rating on shares of DDR Corp. in a research note on Monday, July 11th. Deutsche Bank AG raised their price objective on shares of DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, July 18th. KeyCorp set a $21.00 price objective on shares of DDR Corp. and gave the company a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group AG lowered 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 note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.04.
In other DDR Corp. news, Director Scott D. Roulston bought 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was purchased at an average price of $18.61 per share, with a total value of $102,355.00. Following the transaction, the director now owns 18,723 shares in the company, valued at $348,435.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert H. Gidel sold 16,000 shares of the stock in a transaction that occurred on 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 directly owns 51,954 shares of the company’s stock, valued at approximately $1,013,103. The disclosure for this sale can be found here. Corporate 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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