Goodwin Daniel L reduced its holdings in shares of DDR Corp. (NYSE:DDR) by 16.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,750 shares of the real estate investment trust’s stock after selling 10,244 shares during the period. Goodwin Daniel L’s holdings in DDR Corp. were worth $492,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of DDR Corp. during the 2nd quarter valued at about $121,000. Principal Financial Group Inc. boosted its position in shares of DDR Corp. by 18.0% during the 2nd quarter. Principal Financial Group Inc. now owns 6,777,400 shares of the real estate investment trust’s stock valued at $61,471,000 after acquiring an additional 1,033,642 shares in the last quarter. BlackRock Inc. boosted its position in shares of DDR Corp. by 7.5% during the 2nd quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock valued at $201,598,000 after acquiring an additional 1,545,615 shares in the last quarter. Westpac Banking Corp boosted its position in shares of DDR Corp. by 30.2% during the 2nd quarter. Westpac Banking Corp now owns 1,132,633 shares of the real estate investment trust’s stock valued at $10,273,000 after acquiring an additional 262,389 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of DDR Corp. by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,221,527 shares of the real estate investment trust’s stock valued at $52,895,000 after acquiring an additional 50,804 shares in the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded up 0.25% during trading on Friday, hitting $7.90. 3,773,163 shares of the company’s stock were exchanged. The stock’s market cap is $2.90 billion. DDR Corp. has a 1-year low of $7.67 and a 1-year high of $15.82. The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $9.64.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities analysts expect that DDR Corp. will post ($0.12) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th were paid a $0.19 dividend. The ex-dividend date was Monday, September 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.62%. DDR Corp.’s payout ratio is currently -379.98%.
DDR has been the topic of several recent research reports. Mizuho reiterated a “hold” rating and set a $10.00 target price on shares of DDR Corp. in a research report on Monday, October 9th. Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, October 4th. ValuEngine upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp restated a “buy” rating and issued a $13.00 price target on shares of DDR Corp. in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. DDR Corp. has a consensus rating of “Hold” and an average target price of $12.63.
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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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