Verition Fund Management LLC lifted its position in DDR Corp. (NYSE:DDR) by 195.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,436 shares of the real estate investment trust’s stock after acquiring an additional 26,102 shares during the period. Verition Fund Management LLC’s holdings in DDR were worth $289,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Bayesian Capital Management LP acquired a new stake in shares of DDR in the 1st quarter valued at approximately $116,000. American Century Companies Inc. acquired a new stake in DDR during the 1st quarter worth approximately $173,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in DDR by 79.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,286 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 9,003 shares during the period. HRT Financial LLC acquired a new stake in DDR during the 1st quarter worth approximately $194,000. Finally, Dupont Capital Management Corp acquired a new stake in DDR during the 1st quarter worth approximately $204,000.
In other news, Director Scott D. Roulston sold 10,734 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $16.47, for a total transaction of $176,788.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander Otto purchased 711,616 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were acquired at an average cost of $7.31 per share, with a total value of $5,201,912.96. Following the completion of the purchase, the director now directly owns 52,860,079 shares in the company, valued at $386,407,177.49. The disclosure for this purchase can be found here. Insiders have bought a total of 6,133,611 shares of company stock valued at $64,346,615 over the last ninety days. Company insiders own 17.60% of the company’s stock.
Shares of DDR opened at $17.90 on Friday, according to MarketBeat Ratings. The company has a market cap of $3.32 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.62. DDR Corp. has a twelve month low of $13.26 and a twelve month high of $21.74. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.79 and a quick ratio of 0.79.
DDR (NYSE:DDR) last issued its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.38). The business had revenue of $206.96 million for the quarter, compared to the consensus estimate of $196.86 million. DDR had a negative return on equity of 6.58% and a negative net margin of 27.97%. DDR’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. sell-side analysts expect that DDR Corp. will post 1.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Wednesday, June 13th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, June 12th. This represents a $0.76 annualized dividend and a dividend yield of 4.25%. DDR’s dividend payout ratio is currently 64.41%.
Several analysts have commented on DDR shares. Deutsche Bank dropped their target price on shares of DDR from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 17th. Morgan Stanley dropped their target price on shares of DDR from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 27th. Stifel Nicolaus dropped their target price on shares of DDR from $17.00 to $14.50 and set a “hold” rating on the stock in a report on Wednesday, April 25th. Zacks Investment Research upgraded shares of DDR from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, Jefferies Financial Group set a $16.00 target price on shares of DDR and gave the stock a “hold” rating in a report on Friday, April 13th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.19.
DDR is an owner and manager of 258 value-oriented shopping centers representing 89 million square feet in 32 states and Puerto Rico. The Company owns a high-quality portfolio of open-air shopping centers in major metropolitan areas that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers.
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