First Trust Advisors LP decreased its position in DDR Corp (NYSE:DDR) by 88.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,778 shares of the real estate investment trust’s stock after selling 184,441 shares during the quarter. First Trust Advisors LP’s holdings in DDR were worth $426,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DDR. American Century Companies Inc. bought a new stake in shares of DDR in the 1st quarter valued at approximately $173,000. Schwab Charles Investment Management Inc. increased its holdings in shares of DDR by 10.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,366,964 shares of the real estate investment trust’s stock valued at $32,010,000 after acquiring an additional 411,964 shares during the last quarter. Neuberger Berman Group LLC grew its stake in DDR by 30.7% during the 1st quarter. Neuberger Berman Group LLC now owns 429,747 shares of the real estate investment trust’s stock worth $3,150,000 after buying an additional 100,966 shares during the last quarter. KBC Group NV grew its stake in DDR by 29,137.9% during the 1st quarter. KBC Group NV now owns 202,911 shares of the real estate investment trust’s stock worth $1,487,000 after buying an additional 202,217 shares during the last quarter. Finally, Northern Trust Corp grew its stake in DDR by 6.5% during the 1st quarter. Northern Trust Corp now owns 3,545,379 shares of the real estate investment trust’s stock worth $25,988,000 after buying an additional 215,141 shares during the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.
In other DDR news, Director Alexander Otto purchased 633,912 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was bought at an average price of $17.89 per share, with a total value of $11,340,685.68. Following the completion of the purchase, the director now owns 32,429,638 shares in the company, valued at approximately $580,166,223.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 17.60% of the company’s stock.
A number of research analysts recently commented on DDR shares. Deutsche Bank downgraded DDR from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $14.00 in a research note on Tuesday, August 28th. SunTrust Banks restated a “hold” rating and set a $14.00 price objective on shares of DDR in a research note on Thursday, August 16th. Morgan Stanley lowered their price objective on DDR from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 17th. Stifel Nicolaus lowered their price objective on DDR from $17.00 to $14.25 and set a “hold” rating for the company in a research note on Tuesday, July 3rd. Finally, Zacks Investment Research downgraded DDR from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the stock. DDR presently has an average rating of “Hold” and an average target price of $15.56.
NYSE:DDR opened at $13.94 on Monday. DDR Corp has a 1 year low of $10.95 and a 1 year high of $16.00. The firm has a market capitalization of $2.57 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.66.
DDR (NYSE:DDR) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. DDR had a negative return on equity of 6.72% and a negative net margin of 32.65%. The company had revenue of $204.32 million during the quarter, compared to analysts’ expectations of $200.65 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. sell-side analysts predict that DDR Corp will post 1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Wednesday, September 26th will be paid a $0.20 dividend. This is a boost from DDR’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 25th. This represents a $0.80 annualized dividend and a dividend yield of 5.74%. DDR’s dividend payout ratio is presently 64.41%.
DDR is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.
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