King Street Capital Management L.P. Purchases New Stake in DDR Corp. (DDR)

King Street Capital Management L.P. purchased a new stake in shares of DDR Corp. (NYSE:DDR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,900,000 shares of the real estate investment trust’s stock, valued at approximately $44,884,000. DDR makes up about 5.6% of King Street Capital Management L.P.’s portfolio, making the stock its 5th largest holding. King Street Capital Management L.P. owned approximately 1.33% of DDR as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sigma Planning Corp bought a new stake in shares of DDR during the second quarter valued at approximately $100,000. Cutter & CO Brokerage Inc. bought a new stake in shares of DDR during the second quarter valued at approximately $104,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of DDR during the second quarter valued at approximately $111,000. Janney Montgomery Scott LLC bought a new stake in shares of DDR during the second quarter valued at approximately $121,000. Finally, 1st Global Advisors Inc. bought a new stake in shares of DDR during the second quarter valued at approximately $131,000. 80.04% of the stock is owned by institutional investors.

Shares of DDR Corp. (DDR) opened at $7.82 on Tuesday. DDR Corp. has a fifty-two week low of $7.55 and a fifty-two week high of $15.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market cap of $2,822.44, a P/E ratio of 6.38, a P/E/G ratio of 1.33 and a beta of 0.76.

DDR (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, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. DDR had a net margin of 1.11% and a return on equity of 3.48%. The company had revenue of $220.10 million for the quarter, compared to analysts’ expectations of $218.58 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. analysts expect that DDR Corp. will post 1.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Tuesday, December 12th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.72%. The ex-dividend date of this dividend is Monday, December 11th. DDR’s dividend payout ratio is currently -1,900.00%.

Several equities research analysts recently weighed in on DDR shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 price target (down previously from $11.00) on shares of DDR in a research report on Tuesday, November 7th. Mizuho reissued a “hold” rating and set a $10.00 price target on shares of DDR in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of DDR 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 in a research report on Monday, November 6th. Finally, ValuEngine raised shares of DDR from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.77.

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DDR 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).

Institutional Ownership by Quarter for DDR (NYSE:DDR)

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