Cbre Clarion Securities LLC bought a new stake in shares of DDR Corp (NYSE:DDR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,585,613 shares of the real estate investment trust’s stock, valued at approximately $14,207,000. Cbre Clarion Securities LLC owned about 0.43% of DDR as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in shares of DDR by 71.4% during the third quarter. Prudential Financial Inc. now owns 3,161,322 shares of the real estate investment trust’s stock valued at $28,958,000 after purchasing an additional 1,317,007 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in DDR by 33.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,731,487 shares of the real estate investment trust’s stock worth $34,181,000 after acquiring an additional 937,147 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in DDR by 18.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 390,000 shares of the real estate investment trust’s stock worth $3,572,000 after acquiring an additional 60,000 shares during the last quarter. King Street Capital Management L.P. purchased a new position in DDR in the 3rd quarter worth approximately $44,884,000. Finally, Dimensional Fund Advisors LP raised its holdings in DDR by 7.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,741,087 shares of the real estate investment trust’s stock worth $43,429,000 after acquiring an additional 337,579 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.
In other DDR news, Director Alexander Otto acquired 1,245,942 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $7.58 per share, with a total value of $9,444,240.36. Following the transaction, the director now directly owns 47,633,065 shares in the company, valued at approximately $361,058,632.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 16.10% of the company’s stock.
DDR (NYSE:DDR) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. DDR had a negative net margin of 27.22% and a negative return on equity of 5.56%. The business had revenue of $209.43 million during the quarter, compared to the consensus estimate of $205.20 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue was down 9.8% on a year-over-year basis. equities analysts expect that DDR Corp will post 0.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.38%. The ex-dividend date is Thursday, March 15th. DDR’s payout ratio is -104.11%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of DDR from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Evercore ISI lowered shares of DDR from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Mizuho set a $9.00 price objective on shares of DDR and gave the stock a “hold” rating in a report on Monday, December 18th. Morgan Stanley restated an “equal weight” rating and issued a $8.25 price objective on shares of DDR in a report on Thursday, December 14th. Finally, Jefferies Group set a $8.00 price objective on shares of DDR and gave the stock a “hold” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.65.
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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