Sumitomo Mitsui Asset Management Company LTD maintained its stake in shares of DDR Corp. (NYSE:DDR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,399 shares of the real estate investment trust’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in DDR Corp. were worth $112,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in shares of DDR Corp. during the first quarter valued at approximately $326,000. Swiss National Bank boosted its stake in shares of DDR Corp. by 0.6% in the first quarter. Swiss National Bank now owns 514,300 shares of the real estate investment trust’s stock valued at $6,444,000 after buying an additional 3,100 shares during the period. Clinton Group Inc. boosted its stake in shares of DDR Corp. by 1,237.5% in the first quarter. Clinton Group Inc. now owns 611,104 shares of the real estate investment trust’s stock valued at $7,657,000 after buying an additional 565,413 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of DDR Corp. by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock valued at $290,325,000 after buying an additional 4,348,169 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of DDR Corp. by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,221,527 shares of the real estate investment trust’s stock valued at $52,895,000 after buying an additional 50,804 shares during the period. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) opened at 10.00 on Friday. The company has a 50-day moving average of $9.61 and a 200-day moving average of $11.39. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $19.22. The firm’s market cap is $3.67 billion.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $222.90 million. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Equities research analysts forecast that DDR Corp. will post ($0.11) earnings per share for the current fiscal year.
Several equities research analysts have commented on DDR shares. Boenning Scattergood raised shares of DDR Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and set a $13.00 price target on shares of DDR Corp. in a research report on Friday, May 26th. TheStreet cut shares of DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. BidaskClub raised shares of DDR Corp. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research lowered shares of DDR Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.32.
In related news, COO Michael Makinen acquired 11,325 shares of the stock in a transaction on Friday, June 2nd. The shares were acquired at an average price of $8.83 per share, with a total value of $99,999.75. Following the completion of the transaction, the chief operating officer now owns 66,361 shares in the company, valued at approximately $585,967.63. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David R. Lukes acquired 60,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of $8.37 per share, for a total transaction of $502,200.00. Following the transaction, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 132,325 shares of company stock worth $1,119,330. Insiders own 16.20% of the company’s stock.
About DDR Corp.
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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