Whittier Trust Co. decreased its stake in DDR Corp. (NYSE:DDR) by 32.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,593 shares of the real estate investment trust’s stock after selling 3,234 shares during the period. Whittier Trust Co.’s holdings in DDR Corp. were worth $120,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in DDR Corp. by 47.5% in the first quarter. Goldman Sachs Group Inc. now owns 16,889,918 shares of the real estate investment trust’s stock valued at $300,472,000 after buying an additional 5,439,863 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in DDR Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,606,576 shares of the real estate investment trust’s stock valued at $206,481,000 after buying an additional 198,121 shares during the last quarter. Shinko Asset Management Co. Ltd. boosted its stake in DDR Corp. by 14.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,338,660 shares of the real estate investment trust’s stock valued at $187,543,000 after buying an additional 1,314,310 shares during the last quarter. State Street Corp boosted its stake in 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 last quarter. Finally, Nuveen Asset Management LLC boosted its stake in DDR Corp. by 19.6% in the first quarter. Nuveen Asset Management LLC now owns 3,387,624 shares of the real estate investment trust’s stock valued at $60,266,000 after buying an additional 556,197 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded down 0.49% during mid-day trading on Monday, reaching $16.36. The company’s stock had a trading volume of 1,153,070 shares. The company’s 50-day moving average is $17.62 and its 200 day moving average is $17.99. DDR Corp. has a 12 month low of $15.36 and a 12 month high of $19.92. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 27.45 and a beta of 1.00.
DDR Corp. (NYSE:DDR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm earned $245.90 million during the quarter, compared to analyst estimates of $243.03 million. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities analysts anticipate that DDR Corp. will post $1.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, September 21st. DDR Corp.’s dividend payout ratio is currently 126.67%.
DDR has been the subject of a number of research reports. Deutsche Bank AG increased their price target on DDR Corp. from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, July 18th. Credit Suisse Group AG cut DDR Corp. from an “outperform” rating to a “neutral” rating and set a $18.50 price target for the company. in a research note on Wednesday, July 27th. Canaccord Genuity increased their price target on DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Raymond James Financial Inc. initiated coverage on DDR Corp. in a research note on Monday, July 25th. They issued an “outperform” rating and a $21.00 price target for the company. Finally, Jefferies Group initiated coverage on DDR Corp. in a research note on Thursday, June 30th. They issued a “hold” rating and a $19.00 price target for the company. 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $19.04.
In related news, Director Scott D. Roulston acquired 5,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $18.61 per share, with a total value of $102,355.00. Following the acquisition, the director now owns 18,723 shares of the company’s stock, valued at approximately $348,435.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Gidel sold 16,000 shares of DDR Corp. stock in a transaction 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 $1,013,103. The disclosure for this sale can be found here. 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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