BlackRock Inc. increased its stake in DDR Corp (NYSE:DDR) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,293,640 shares of the real estate investment trust’s stock after buying an additional 1,316,913 shares during the quarter. BlackRock Inc. owned about 6.32% of DDR worth $208,709,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of DDR. Bank of New York Mellon Corp lifted its position in shares of DDR by 11.8% during the fourth quarter. Bank of New York Mellon Corp now owns 10,055,427 shares of the real estate investment trust’s stock worth $90,097,000 after purchasing an additional 1,064,901 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in shares of DDR during the fourth quarter valued at $574,000. Eos Focused Equity Management L.P. increased its stake in shares of DDR by 34.3% during the fourth quarter. Eos Focused Equity Management L.P. now owns 295,216 shares of the real estate investment trust’s stock valued at $2,645,000 after buying an additional 75,394 shares during the period. Swiss National Bank increased its stake in shares of DDR by 3.1% during the fourth quarter. Swiss National Bank now owns 539,700 shares of the real estate investment trust’s stock valued at $4,836,000 after buying an additional 16,300 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of DDR by 21,980.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,725,131 shares of the real estate investment trust’s stock valued at $60,258,000 after buying an additional 6,694,673 shares during the period. Institutional investors own 81.58% of the company’s stock.
DDR has been the topic of several research reports. Citigroup restated a “buy” rating on shares of DDR in a research note on Friday, December 15th. Morgan Stanley cut their target price on DDR from $9.50 to $7.50 and set an “equal weight” rating on the stock in a research note on Tuesday, March 27th. Zacks Investment Research lowered DDR from a “hold” rating to a “sell” rating in a research note on Monday, March 26th. Boenning Scattergood reiterated a “sell” rating on shares of DDR in a research note on Monday, December 18th. Finally, ValuEngine lowered DDR from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.60.
In other DDR news, Director Alexander Otto acquired 1,351,558 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $7.81 per share, for a total transaction of $10,555,667.98. Following the completion of the transaction, the director now directly owns 48,963,634 shares of the company’s stock, valued at $382,405,981.54. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 5,027,655 shares of company stock valued at $37,275,524 over the last 90 days. Company insiders own 16.10% of the company’s stock.
NYSE:DDR traded down $0.16 during trading hours on Friday, reaching $7.48. The company had a trading volume of 3,337,114 shares, compared to its average volume of 5,168,268. DDR Corp has a 1-year low of $6.76 and a 1-year high of $13.00. The company has a market capitalization of $2,820.30, a PE ratio of 6.34, a PEG ratio of 1.53 and a beta of 0.61. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.62.
DDR (NYSE:DDR) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The company had revenue of $209.43 million during the quarter, compared to the consensus estimate of $205.20 million. DDR had a negative return on equity of 5.56% and a negative net margin of 27.22%. DDR’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. equities research analysts predict that DDR Corp will post 1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.16%. The ex-dividend date was Thursday, March 15th. DDR’s dividend payout ratio (DPR) is presently 64.41%.
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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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