Asset Management One Co. Ltd. increased its position in shares of DDR Corp (NYSE:DDR) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 688,318 shares of the real estate investment trust’s stock after purchasing an additional 21,415 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.19% of DDR worth $6,340,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in DDR. Goldman Sachs Group Inc. boosted its holdings in DDR by 26.8% during the second 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 last quarter. Brookfield Asset Management Inc. boosted its holdings in DDR by 312.0% during the second quarter. Brookfield Asset Management Inc. now owns 8,181,400 shares of the real estate investment trust’s stock worth $74,205,000 after purchasing an additional 6,195,700 shares during the last quarter. Capital Growth Management LP purchased a new position in DDR during the third quarter worth about $47,357,000. King Street Capital Management L.P. purchased a new position in DDR during the third quarter worth about $44,884,000. Finally, Eaton Vance Management purchased a new position in DDR in the second quarter valued at about $40,491,000. Institutional investors and hedge funds own 79.86% of the company’s stock.
Shares of DDR Corp (NYSE:DDR) opened at $8.79 on Tuesday. DDR Corp has a 12-month low of $7.26 and a 12-month high of $15.57. 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 $3,264.60, a P/E ratio of 7.38, a PEG ratio of 1.54 and a beta of 0.76.
DDR (NYSE:DDR) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $218.58 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. sell-side analysts expect that DDR Corp will post 1.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 8.65%. The ex-dividend date of this dividend is Monday, December 11th. DDR’s dividend payout ratio (DPR) is currently -1,900.00%.
A number of research analysts have weighed in on DDR shares. KeyCorp reiterated a “buy” rating and issued a $13.00 target price on shares of DDR in a research note on Friday, September 1st. Mizuho reiterated a “hold” rating and issued a $10.00 target price on shares of DDR in a research note on Monday, October 9th. ValuEngine cut shares of DDR from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $9.00 target price (down from $11.00) on shares of DDR in a research note on Tuesday, November 7th. Finally, Zacks Investment Research cut shares of DDR from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.29.
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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