Westpac Banking Corp Sells 99,036 Shares of DDR Corp (DDR)

Westpac Banking Corp lowered its position in DDR Corp (NYSE:DDR) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 984,535 shares of the real estate investment trust’s stock after selling 99,036 shares during the quarter. Westpac Banking Corp’s holdings in DDR were worth $8,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of DDR by 2.0% in the second quarter. SG Americas Securities LLC now owns 17,249 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 339 shares during the period. Franklin Resources Inc. increased its stake in shares of DDR by 1.2% in the second quarter. Franklin Resources Inc. now owns 237,633 shares of the real estate investment trust’s stock valued at $2,156,000 after buying an additional 2,833 shares during the period. Profund Advisors LLC increased its stake in shares of DDR by 25.9% in 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 during the period. The Manufacturers Life Insurance Company increased its stake in shares of DDR by 24.9% in the second quarter. The Manufacturers Life Insurance Company now owns 23,930 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 4,768 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of DDR by 1.5% in the second quarter. Alliancebernstein L.P. now owns 421,923 shares of the real estate investment trust’s stock valued at $3,827,000 after buying an additional 6,058 shares during the period. 80.02% of the stock is owned by institutional investors.

DDR has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $9.00 price objective (down previously from $11.00) on shares of DDR in a research note on Tuesday, November 7th. Boenning Scattergood reaffirmed a “sell” rating on shares of DDR in a research note on Monday, December 18th. Mizuho reaffirmed a “hold” rating and issued a $10.00 price objective on shares of DDR in a research note on Monday, October 9th. Zacks Investment Research downgraded DDR from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $8.25 target price on shares of DDR in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.29.

Shares of DDR Corp (NYSE DDR) opened at $8.39 on Friday. The firm has a market cap of $3,090.00, a P/E ratio of -18.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51. DDR Corp has a 52-week low of $7.26 and a 52-week high of $15.57.

DDR (NYSE:DDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share 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 net margin of 1.11% and a return on equity of 3.48%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. equities research analysts forecast that DDR Corp will post 1.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Tuesday, December 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 9.06%. The ex-dividend date of this dividend was Monday, December 11th. DDR’s dividend payout ratio (DPR) is -165.22%.

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About DDR

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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Institutional Ownership by Quarter for DDR (NYSE:DDR)

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