Parametric Portfolio Associates LLC increased its stake in shares of DDR Corp (NYSE:DDR) by 209.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,147,814 shares of the real estate investment trust’s stock after buying an additional 777,235 shares during the period. Parametric Portfolio Associates LLC owned about 0.31% of DDR Corp worth $10,411,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in DDR Corp during the second quarter worth about $8,919,000. Timbercreek Asset Management Ltd. boosted its holdings in DDR Corp by 28.4% during the second quarter. Timbercreek Asset Management Ltd. now owns 1,585,163 shares of the real estate investment trust’s stock worth $14,377,000 after buying an additional 350,545 shares in the last quarter. California Public Employees Retirement System boosted its holdings in DDR Corp by 7.7% during the second quarter. California Public Employees Retirement System now owns 807,658 shares of the real estate investment trust’s stock worth $7,325,000 after buying an additional 57,900 shares in the last quarter. Northern Trust Corp boosted its holdings in DDR Corp by 6.1% during the second quarter. Northern Trust Corp now owns 3,000,951 shares of the real estate investment trust’s stock worth $27,219,000 after buying an additional 173,544 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in DDR Corp during the second quarter worth about $2,594,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
DDR has been the topic of a number of research analyst reports. Deutsche Bank AG raised shares of DDR Corp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $13.00 in a report on Thursday, July 27th. KeyCorp reissued a “buy” rating and set a $13.00 price objective on shares of DDR Corp in a report on Friday, September 1st. ValuEngine raised shares of DDR Corp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of DDR Corp from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, October 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $9.00 price objective 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 given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.85.
Shares of DDR Corp (DDR) opened at 8.83 on Friday. The firm has a 50 day moving average of $9.50 and a 200 day moving average of $9.96. DDR Corp has a one year low of $8.11 and a one year high of $16.59. The stock’s market cap is $3.24 billion.
DDR Corp (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.22). DDR Corp had a negative net margin of 6.23% and a negative return on equity of 3.16%. The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts predict that DDR Corp will post ($0.12) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders 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 (DPR) is -379.98%.
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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