Principal Financial Group Inc. increased its holdings in shares of DDR Corp. (NYSE:DDR) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,130,922 shares of the real estate investment trust’s stock after purchasing an additional 353,522 shares during the period. Principal Financial Group Inc. owned 1.94% of DDR Corp. worth $65,319,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in DDR. Goldman Sachs Group Inc. boosted its position in DDR Corp. by 26.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock worth $266,566,000 after purchasing an additional 6,219,488 shares during the period. Brookfield Asset Management Inc. boosted its position in DDR Corp. by 312.0% in the 2nd quarter. Brookfield Asset Management Inc. now owns 8,181,400 shares of the real estate investment trust’s stock valued at $74,205,000 after buying an additional 6,195,700 shares during the last quarter. Eaton Vance Management purchased a new position in DDR Corp. in the 2nd quarter valued at about $40,491,000. Balyasny Asset Management LLC boosted its position in DDR Corp. by 158.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 6,707,542 shares of the real estate investment trust’s stock valued at $60,837,000 after buying an additional 4,110,896 shares during the last quarter. Finally, LSV Asset Management boosted its position in DDR Corp. by 369.3% in the 2nd quarter. LSV Asset Management now owns 2,758,800 shares of the real estate investment trust’s stock valued at $25,022,000 after buying an additional 2,171,000 shares during the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of DDR Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Boenning Scattergood reissued a “sell” rating on shares of DDR Corp. in a research report on Monday, November 6th. ValuEngine raised shares of DDR Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. reissued a “hold” rating and issued a $10.00 price objective on shares of DDR Corp. in a research report on Friday, November 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 price objective (down from $11.00) on shares of DDR Corp. in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.04.
Shares of DDR Corp. (NYSE:DDR) opened at $7.92 on Tuesday. The stock has a market cap of $2,969.83, a PE ratio of 6.72, a PEG ratio of 1.41 and a beta of 0.76. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.61 and a quick ratio of 0.61. DDR Corp. has a 12 month low of $7.55 and a 12 month high of $15.82.
DDR Corp. (NYSE:DDR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $220.10 million for the quarter, compared to analyst estimates of $218.58 million. DDR Corp. had a net margin of 1.11% and a return on equity of 3.48%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. sell-side analysts forecast that DDR Corp. will post 1.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 11th. This represents a $0.76 annualized dividend and a yield of 9.60%. DDR Corp.’s dividend payout ratio (DPR) is -1,900.00%.
DDR Corp. Profile
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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