Dynamic Technology Lab Private Ltd acquired a new position in DDR Corp. (NYSE:DDR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,479 shares of the real estate investment trust’s stock, valued at approximately $279,000.
Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of DDR in the 2nd quarter worth about $121,000. Principal Financial Group Inc. raised its position in shares of DDR by 18.0% in the 2nd quarter. Principal Financial Group Inc. now owns 6,777,400 shares of the real estate investment trust’s stock worth $61,471,000 after acquiring an additional 1,033,642 shares in the last quarter. State Street Corp raised its position in shares of DDR by 0.4% in the 2nd quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock worth $87,284,000 after acquiring an additional 36,430 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in DDR in the 2nd quarter valued at about $149,000. Finally, Prudential Financial Inc. increased its position in DDR by 71.4% in the 3rd quarter. Prudential Financial Inc. now owns 3,161,322 shares of the real estate investment trust’s stock valued at $28,958,000 after buying an additional 1,317,007 shares in the last quarter. 80.04% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on DDR. Stifel Nicolaus began coverage on DDR in a research report on Thursday, November 30th. They issued a “buy” rating and a $8.25 target price for the company. KeyCorp reaffirmed a “buy” rating and issued a $13.00 target price on shares of DDR in a research report on Friday, September 1st. ValuEngine lowered DDR from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks reaffirmed a “hold” rating and issued a $10.00 target price on shares of DDR in a research report on Friday, November 3rd. Finally, Zacks Investment Research raised DDR from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.77.
DDR (NYSE:DDR) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $220.10 million during the quarter, compared to the consensus estimate of $218.58 million. DDR had a return on equity of 3.48% and a net margin of 1.11%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. equities research analysts expect that DDR Corp. will post 1.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.72%. DDR’s dividend payout ratio (DPR) is currently -1,900.00%.
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DDR 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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