Macquarie Group Ltd. reduced its position in shares of DDR Corp. (NYSE:DDR) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,195,529 shares of the real estate investment trust’s stock after selling 43,079 shares during the period. Macquarie Group Ltd.’s holdings in DDR Corp. were worth $21,687,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of DDR. California State Teachers Retirement System increased its position in DDR Corp. by 1.2% in the second quarter. California State Teachers Retirement System now owns 669,643 shares of the real estate investment trust’s stock worth $12,147,000 after buying an additional 8,160 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in DDR Corp. by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 1,864,771 shares of the real estate investment trust’s stock worth $33,827,000 after buying an additional 96,198 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in DDR Corp. during the second quarter worth about $1,513,000. Shinko Asset Management Co. Ltd. boosted its stake in DDR Corp. by 14.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,338,660 shares of the real estate investment trust’s stock worth $187,543,000 after buying an additional 1,314,310 shares during the last quarter. Finally, IBM Retirement Fund boosted its stake in DDR Corp. by 4.0% in the second quarter. IBM Retirement Fund now owns 31,081 shares of the real estate investment trust’s stock worth $564,000 after buying an additional 1,187 shares during the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.
Shares of DDR Corp. (NYSE:DDR) traded up 0.86% during trading on Friday, hitting $15.19. The stock had a trading volume of 1,155,810 shares. DDR Corp. has a 1-year low of $14.67 and a 1-year high of $19.92. The company has a market cap of $5.55 billion, a PE ratio of 59.11 and a beta of 0.94. The firm’s 50 day moving average is $15.58 and its 200 day moving average is $17.53.
DDR Corp. (NYSE:DDR) last released its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company earned $245.20 million during the quarter, compared to analyst estimates of $243.84 million. DDR Corp. had a return on equity of 3.93% and a net margin of 12.17%. DDR Corp.’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Equities research analysts anticipate that DDR Corp. will post $1.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Tuesday, December 13th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, December 9th. DDR Corp.’s dividend payout ratio is presently 281.49%.
A number of analysts have recently issued reports on the company. Citigroup Inc. raised their price objective on DDR Corp. from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Canaccord Genuity raised their price objective on DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating on shares of DDR Corp. in a research report on Tuesday, August 23rd. Bank of America Corp. cut DDR Corp. from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $18.34 to $18.50 in a research report on Thursday, August 25th. Finally, BTIG Research assumed coverage on DDR Corp. in a research report on Thursday, August 25th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.62.
In other DDR Corp. news, insider Thomas F. August bought 30,100 shares of DDR Corp. stock in a transaction dated Monday, October 31st. The stock was bought at an average cost of $15.22 per share, with a total value of $458,122.00. Following the completion of the acquisition, the insider now directly owns 25,000 shares in the company, valued at approximately $380,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Otto acquired 218,699 shares of DDR Corp. stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $14.98 per share, with a total value of $3,276,111.02. Following the completion of the acquisition, the director now owns 42,517,920 shares of the company’s stock, valued at approximately $636,918,441.60. The disclosure for this purchase can be found here. 16.20% of the stock is owned by insiders.
About DDR Corp.
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.