HBK Investments L P boosted its holdings in shares of DDR Corp (NYSE:DDR) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,662 shares of the real estate investment trust’s stock after purchasing an additional 40,222 shares during the period. HBK Investments L P owned about 0.10% of DDR worth $3,411,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DDR. Two Sigma Investments LP lifted its stake in shares of DDR by 183.9% in the 4th quarter. Two Sigma Investments LP now owns 1,065,480 shares of the real estate investment trust’s stock valued at $9,547,000 after acquiring an additional 690,174 shares during the last quarter. Ellington Management Group LLC bought a new position in shares of DDR in the 4th quarter valued at $395,000. Teachers Insurance & Annuity Association of America lifted its stake in shares of DDR by 10.4% in the 4th quarter. Teachers Insurance & Annuity Association of America now owns 340,952 shares of the real estate investment trust’s stock valued at $3,055,000 after acquiring an additional 32,146 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of DDR in the 4th quarter valued at $720,000. Finally, Guggenheim Capital LLC lifted its stake in shares of DDR by 19.5% in the 4th quarter. Guggenheim Capital LLC now owns 73,694 shares of the real estate investment trust’s stock valued at $660,000 after acquiring an additional 12,036 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
In other news, Director Alexander Otto bought 1,351,558 shares of the company’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $7.81 per share, with a total value of $10,555,667.98. Following the transaction, the director now directly owns 48,963,634 shares in the company, valued at $382,405,981.54. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have acquired 5,027,655 shares of company stock worth $37,275,524. Insiders own 16.10% of the company’s stock.
NYSE DDR traded down $0.16 during trading hours on Friday, hitting $7.48. The company’s stock had a trading volume of 3,337,114 shares, compared to its average volume of 5,168,268. DDR Corp has a 52 week low of $6.76 and a 52 week high of $13.00. The stock has a market cap of $2,761.23, a price-to-earnings ratio of 6.34, a PEG ratio of 1.50 and a beta of 0.61. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.82 and a current ratio of 0.82.
DDR (NYSE:DDR) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. DDR had a negative net margin of 27.22% and a negative return on equity of 5.56%. The business had revenue of $209.43 million for the quarter, compared to analysts’ expectations of $205.20 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. sell-side analysts predict that DDR Corp will post 1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were given a $0.19 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.76 annualized dividend and a yield of 10.16%. DDR’s payout ratio is 64.41%.
A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on DDR from $9.50 to $7.50 and set an “equal weight” rating for the company in a research note on Tuesday, March 27th. Jefferies Group set a $8.00 price objective on DDR and gave the company a “hold” rating in a report on Tuesday, February 27th. Zacks Investment Research downgraded DDR from a “hold” rating to a “sell” rating in a report on Friday, March 9th. Sandler O’Neill restated a “hold” rating and issued a $8.00 price objective on shares of DDR in a report on Friday, February 16th. Finally, Mizuho restated a “hold” rating on shares of DDR in a report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.60.
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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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