AQR Capital Management LLC Reduces Position in DDR Corp. (DDR)

AQR Capital Management LLC cut its position in DDR Corp. (NYSE:DDR) by 49.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,181 shares of the real estate investment trust’s stock after selling 80,880 shares during the period. AQR Capital Management LLC’s holdings in DDR Corp. were worth $1,042,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of DDR. Oxford Asset Management purchased a new stake in shares of DDR Corp. during the first quarter valued at approximately $163,000. CrestPoint Capital Management LLC acquired a new position in shares of DDR Corp. during the first quarter valued at approximately $165,000. Koch Industries Inc. acquired a new position in shares of DDR Corp. during the first quarter valued at approximately $165,000. World Asset Management Inc increased its position in shares of DDR Corp. by 2.0% in the first quarter. World Asset Management Inc now owns 15,650 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of DDR Corp. by 22.8% in the first quarter. SG Americas Securities LLC now owns 16,910 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 3,135 shares during the last quarter. 80.52% of the stock is owned by institutional investors.

DDR Corp. (NYSE:DDR) opened at 9.67 on Friday. The company has a 50-day moving average price of $9.73 and a 200 day moving average price of $11.21. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $19.22. The company’s market cap is $3.55 billion.

DDR Corp. (NYSE:DDR) last posted 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 business had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities research analysts forecast that DDR Corp. will post ($0.10) EPS for the current fiscal year.

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DDR has been the topic of a number of research analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 target price on shares of DDR Corp. in a research report on Monday, April 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $14.00 target price on shares of DDR Corp. in a research report on Thursday, April 27th. Citigroup Inc. decreased their target price on DDR Corp. from $16.50 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Boenning Scattergood upgraded DDR Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, TheStreet downgraded DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. DDR Corp. currently has an average rating of “Hold” and an average price target of $14.32.

In other news, CEO David R. Lukes bought 60,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased 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 in the company, valued at approximately $3,623,774.76. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Terrance R. Ahern bought 59,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $8.47 per share, with a total value of $499,730.00. Following the purchase, the director now owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 132,325 shares of company stock valued at $1,119,330. Insiders own 16.20% of the company’s stock.

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).

Institutional Ownership by Quarter for DDR Corp. (NYSE:DDR)

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