California Public Employees Retirement System raised its position in shares of DDR Corp (NYSE:DDR) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 807,658 shares of the real estate investment trust’s stock after acquiring an additional 57,900 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of DDR Corp worth $7,325,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp acquired a new position in shares of DDR Corp during the second quarter valued at approximately $100,000. Cutter & CO Brokerage Inc. acquired a new position in shares of DDR Corp during the second quarter valued at approximately $104,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of DDR Corp during the second quarter valued at approximately $111,000. Oxford Asset Management acquired a new position in shares of DDR Corp during the first quarter valued at approximately $163,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of DDR Corp during the second quarter valued at approximately $121,000. 80.24% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on DDR shares. Deutsche Bank AG raised DDR Corp from a “hold” rating to a “buy” rating and increased their target price for the company from $12.00 to $13.00 in a report on Thursday, July 27th. KeyCorp reissued a “buy” rating and set a $13.00 target price on shares of DDR Corp in a report on Friday, September 1st. ValuEngine raised DDR Corp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised DDR Corp from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, October 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of DDR Corp in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. DDR Corp currently has an average rating of “Hold” and an average price target of $12.85.
DDR Corp (NYSE:DDR) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.22). The firm had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp had a negative return on equity of 3.16% and a negative net margin of 6.23%. DDR Corp’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 25th. This represents a $0.76 annualized dividend and a dividend yield of 8.61%. DDR Corp’s dividend payout ratio is currently -379.98%.
About DDR Corp
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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