Retirement Systems of Alabama held its stake in DDR Corp. (NYSE:DDR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,000 shares of the real estate investment trust’s stock at the end of the second quarter. Retirement Systems of Alabama’s holdings in DDR Corp. were worth $6,240,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its stake in 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 last quarter. Gateway Investment Advisers LLC raised its stake in 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 during the last quarter. BlackRock Japan Co. Ltd raised its stake in 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 during the last quarter. Fox Run Management L.L.C. bought a new stake in DDR Corp. during the second quarter valued at $328,000. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in 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 during the last quarter. Institutional investors own 89.81% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded down 0.61% during trading on Tuesday, reaching $16.32. 1,893,190 shares of the company’s stock were exchanged. The company has a market capitalization of $5.96 billion, a P/E ratio of 27.38 and a beta of 1.00. The stock has a 50-day moving average price of $17.92 and a 200 day moving average price of $18.03. DDR Corp. has a 12-month low of $15.36 and a 12-month high of $19.92.
DDR Corp. (NYSE:DDR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share 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 business had revenue of $245.90 million for the quarter, compared to analyst estimates of $243.03 million. During the same quarter last year, the company earned $0.31 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts expect that DDR Corp. will post $1.26 EPS for the current fiscal year.
The company 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Wednesday, September 21st. DDR Corp.’s dividend payout ratio (DPR) is 126.67%.
Several analysts recently weighed in on the company. Mizuho lowered DDR Corp. from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $19.00 to $17.00 in a report on Monday, July 11th. Bank of America Corp. lowered DDR Corp. from a “buy” rating to a “neutral” rating in a research note on Monday, July 11th. 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 research note on Monday, October 3rd. KeyCorp set a $21.00 target price on DDR Corp. and gave the stock a “buy” rating in a research report on Thursday, October 6th. Finally, Jefferies Group reiterated a “hold” rating on shares of DDR Corp. in a research report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.04.
In other DDR Corp. news, Director Robert H. Gidel sold 16,000 shares of DDR Corp. 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 transaction, the director now owns 51,954 shares of the company’s stock, valued at $1,013,103. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott D. Roulston purchased 5,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were purchased at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the transaction, the director now owns 18,723 shares of the company’s stock, valued at $348,435.03. The disclosure for this purchase can be found here. Company insiders own 16.20% of the company’s stock.
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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