Quantbot Technologies LP trimmed its position in DDR Corp. (NYSE:DDR) by 85.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,050 shares of the real estate investment trust’s stock after selling 87,807 shares during the quarter. Quantbot Technologies LP’s holdings in DDR were worth $137,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of DDR. Sigma Planning Corp bought a new position in DDR in the 2nd quarter valued at about $100,000. Cutter & CO Brokerage Inc. bought a new position in DDR in the 2nd quarter valued at about $104,000. Cambridge Investment Research Advisors Inc. bought a new position in DDR in the 2nd quarter valued at about $111,000. Janney Montgomery Scott LLC bought a new position in DDR in the 2nd quarter valued at about $121,000. Finally, 1st Global Advisors Inc. bought a new position in DDR in the 2nd quarter valued at about $131,000. 80.14% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on DDR shares. KeyCorp reissued a “buy” rating and issued a $13.00 price target on shares of DDR in a report on Friday, September 1st. Mizuho reissued a “hold” rating and issued a $10.00 price target on shares of DDR in a report on Monday, October 9th. ValuEngine cut shares of DDR from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 price target (down from $11.00) on shares of DDR in a report on Tuesday, November 7th. Finally, Zacks Investment Research cut shares of DDR from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.77.
DDR (NYSE:DDR) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. DDR had a net margin of 1.11% and a return on equity of 3.48%. The company had revenue of $220.10 million for the quarter, compared to analysts’ expectations of $218.58 million. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. research analysts predict that DDR Corp. will post 1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, December 11th. This represents a $0.76 annualized dividend and a dividend yield of 9.92%. DDR’s dividend payout ratio is presently -1,900.00%.
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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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