Utah Retirement Systems raised its position in shares of DDR Corp. (NYSE:DDR) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,238 shares of the real estate investment trust’s stock after acquiring an additional 4,342 shares during the quarter. Utah Retirement Systems’ holdings in DDR Corp. were worth $710,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DDR. Nationwide Fund Advisors boosted its position in DDR Corp. by 73.0% during the 1st quarter. Nationwide Fund Advisors now owns 47,252 shares of the real estate investment trust’s stock valued at $592,000 after acquiring an additional 19,944 shares in the last quarter. ProShare Advisors LLC boosted its position in DDR Corp. by 3.6% during the 1st quarter. ProShare Advisors LLC now owns 84,623 shares of the real estate investment trust’s stock valued at $1,060,000 after acquiring an additional 2,905 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in DDR Corp. by 111.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 69,200 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 36,500 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in DDR Corp. by 0.6% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,405 shares of the real estate investment trust’s stock valued at $594,000 after acquiring an additional 269 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in DDR Corp. by 37.1% during the 1st quarter. First Trust Advisors LP now owns 146,608 shares of the real estate investment trust’s stock valued at $1,837,000 after acquiring an additional 39,687 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.
In other DDR Corp. news, Director Terrance R. Ahern acquired 59,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the purchase, the director now owns 323,060 shares in the company, valued at $2,736,318.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David R. Lukes acquired 60,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average price of $8.37 per share, for a total transaction of $502,200.00. Following the completion of the purchase, 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. 16.10% of the stock is currently owned by company insiders.
DDR Corp. (DDR) opened at 9.96 on Wednesday. The stock’s 50 day moving average is $9.93 and its 200 day moving average is $10.60. DDR Corp. has a 12-month low of $8.11 and a 12-month high of $18.16. The stock’s market capitalization is $3.66 billion.
DDR Corp. (NYSE:DDR) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.22). DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. DDR Corp.’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts predict that DDR Corp. will post ($0.08) earnings per share for the current fiscal year.
DDR has been the topic of several research reports. KeyCorp reaffirmed a “buy” rating and set a $13.00 price objective on shares of DDR Corp. in a research report on Friday, September 1st. ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.00 price objective on shares of DDR Corp. in a research report on Friday, May 26th. BidaskClub raised DDR Corp. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $12.00 price objective (down from $14.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $14.00.
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DDR Corp. Company 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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