Axa increased its holdings in DDR Corp (NYSE:DDR) by 100.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,101,775 shares of the real estate investment trust’s stock after acquiring an additional 552,721 shares during the quarter. Axa owned approximately 0.30% of DDR worth $10,093,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in DDR. Cutter & CO Brokerage Inc. acquired a new stake in DDR during the second quarter valued at approximately $104,000. Cambridge Investment Research Advisors Inc. acquired a new stake in DDR during the second quarter valued at approximately $111,000. Janney Montgomery Scott LLC acquired a new stake in DDR during the second quarter valued at approximately $121,000. 1st Global Advisors Inc. acquired a new stake in DDR during the second quarter valued at approximately $131,000. Finally, Profund Advisors LLC raised its stake in DDR by 25.9% during the second quarter. Profund Advisors LLC now owns 15,228 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 3,132 shares in the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.
DDR has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $9.00 price objective (down previously from $11.00) on shares of DDR in a research note on Tuesday, November 7th. Mizuho reaffirmed a “hold” rating and set a $10.00 target price on shares of DDR in a report on Monday, October 9th. Boenning Scattergood reaffirmed a “sell” rating on shares of DDR in a report on Monday. Zacks Investment Research lowered DDR from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $8.25 target price on shares of DDR in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.29.
DDR (NYSE:DDR) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. DDR had a return on equity of 3.48% and a net margin of 1.11%. The business had revenue of $220.10 million during the quarter, compared to analyst estimates of $218.58 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. sell-side analysts predict that DDR Corp will post 1.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Tuesday, December 12th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date is Monday, December 11th. DDR’s dividend payout ratio (DPR) is -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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