Cornercap Investment Counsel Inc. bought a new position in shares of DDR Corp (NYSE:DDR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,390 shares of the real estate investment trust’s stock, valued at approximately $720,000.
Several other hedge funds also recently added to or reduced their stakes in DDR. Lourd Capital LLC purchased a new stake in DDR during the 4th quarter valued at about $136,000. GSA Capital Partners LLP purchased a new stake in DDR during the 3rd quarter valued at about $151,000. The Manufacturers Life Insurance Company grew its stake in DDR by 24.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,930 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 4,768 shares in the last quarter. Royal Bank of Canada grew its stake in DDR by 317.9% during the 2nd quarter. Royal Bank of Canada now owns 24,049 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 18,294 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in DDR during the 4th quarter valued at about $242,000. 81.82% of the stock is owned by institutional investors and hedge funds.
DDR Corp (NYSE:DDR) opened at $7.32 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.62. The firm has a market cap of $2,787.08, a PE ratio of 6.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.61. DDR Corp has a fifty-two week low of $6.77 and a fifty-two week high of $13.30.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be issued a $0.19 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.76 annualized dividend and a yield of 10.38%. DDR’s payout ratio is -104.11%.
In other news, Director Alexander Otto bought 1,351,558 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $7.81 per share, for a total transaction of $10,555,667.98. Following the acquisition, the director now directly owns 48,963,634 shares of the company’s stock, valued at approximately $382,405,981.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.10% of the company’s stock.
Several analysts recently issued reports on DDR shares. Raymond James Financial reaffirmed a “buy” rating on shares of DDR in a research note on Friday, December 15th. Citigroup reaffirmed a “buy” rating on shares of DDR in a research note on Friday, December 15th. Stifel Nicolaus started coverage on shares of DDR in a research note on Thursday, November 30th. They set a “buy” rating and a $8.25 price objective for the company. Capital One Financial reaffirmed an “equal weight” rating on shares of DDR in a research note on Friday, December 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $8.25 price objective on shares of DDR in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. DDR presently has an average rating of “Hold” and an average price target of $9.65.
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DDR Company Profile
DDR Corp. is a self-administered and self-managed real estate investment trust. It operates through two segments: shopping centers and loan investments. It is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. As of December 31, 2016, it owned and managed approximately 106 million total square feet of gross leasable area (GLA).
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