Ellington Management Group LLC acquired a new stake in DDR Corp (NYSE:DDR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 44,100 shares of the real estate investment trust’s stock, valued at approximately $395,000.
A number of other large investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in DDR by 24.9% in the second 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. Presima Inc. grew its position in DDR by 3.3% in the fourth quarter. Presima Inc. now owns 222,600 shares of the real estate investment trust’s stock valued at $1,994,000 after acquiring an additional 7,100 shares in the last quarter. Meeder Asset Management Inc. grew its position in DDR by 28.9% in the fourth quarter. Meeder Asset Management Inc. now owns 38,692 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 8,672 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of DDR by 19.5% during the 4th quarter. Guggenheim Capital LLC now owns 73,694 shares of the real estate investment trust’s stock valued at $660,000 after buying an additional 12,036 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of DDR by 3.4% during the 4th quarter. Strs Ohio now owns 402,621 shares of the real estate investment trust’s stock valued at $3,607,000 after buying an additional 13,420 shares during the last quarter. 81.58% of the stock is owned by institutional investors.
DDR traded down $0.16 during trading hours on Friday, hitting $7.48. 3,337,114 shares of the stock were exchanged, compared to its average volume of 5,168,268. DDR Corp has a 12 month low of $6.76 and a 12 month high of $13.00. The stock has a market capitalization of $2,820.30, a PE ratio of 6.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.82 and a quick ratio of 0.82.
DDR (NYSE:DDR) last announced its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. DDR had a negative return on equity of 5.56% and a negative net margin of 27.22%. The firm had revenue of $209.43 million for the quarter, compared to analysts’ expectations of $205.20 million. During the same period last year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. research analysts anticipate that DDR Corp will post 1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.16%. The ex-dividend date was Thursday, March 15th. DDR’s dividend payout ratio (DPR) is presently 64.41%.
DDR has been the subject of several research analyst reports. Zacks Investment Research cut DDR from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Boenning Scattergood reiterated a “sell” rating on shares of DDR in a research note on Tuesday, February 20th. Raymond James Financial reiterated a “buy” rating on shares of DDR in a research note on Friday, December 15th. Citigroup reiterated a “buy” rating on shares of DDR in a research note on Friday, December 15th. Finally, Evercore ISI cut DDR from an “in-line” rating to an “underperform” rating in a research note on Monday, March 5th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.60.
In related news, Director Alexander Otto bought 711,616 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were bought at an average cost of $7.31 per share, for a total transaction of $5,201,912.96. Following the completion of the purchase, the director now owns 52,860,079 shares of the company’s stock, valued at approximately $386,407,177.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 5,027,655 shares of company stock worth $37,275,524 over the last quarter. 16.10% of the stock is currently owned by company insiders.
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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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