DDR Corp. (DDR) Sees Large Increase in Short Interest
DDR Corp. (NYSE:DDR) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,387,278 shares, an increase of 46.8% from the August 15th total of 2,988,880 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 2,604,909 shares, the days-to-cover ratio is presently 1.7 days.
In related news, Director Scott D. Roulston purchased 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average cost of $18.61 per share, for a total transaction of $102,355.00. Following the completion of the acquisition, the director now owns 18,723 shares in the company, valued at approximately $348,435.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christa A. Vesy sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $17.38, for a total transaction of $86,900.00. Following the sale, the vice president now owns 89,506 shares of the company’s stock, valued at $1,555,614.28. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.
Several institutional investors have recently modified their holdings of DDR. State Street Corp boosted its position in shares of DDR Corp. by 3.7% in the first quarter. State Street Corp now owns 8,759,791 shares of the real estate investment trust’s stock valued at $155,838,000 after buying an additional 309,326 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 100 shares in the last quarter. BlackRock Inc. boosted its position in shares of DDR Corp. by 57.5% in the first quarter. BlackRock Inc. now owns 430,751 shares of the real estate investment trust’s stock valued at $7,663,000 after buying an additional 157,193 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of DDR Corp. by 73.0% in the first quarter. Boothbay Fund Management LLC now owns 56,176 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 23,707 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its position in shares of DDR Corp. by 0.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 222,000 shares of the real estate investment trust’s stock valued at $3,738,000 after buying an additional 1,300 shares in the last quarter. 89.84% of the stock is owned by institutional investors.
A number of research firms have issued reports on DDR. Jefferies Group reiterated a “hold” rating on shares of DDR Corp. in a research note on Monday, August 29th. Bank of America Corp. cut shares of DDR Corp. from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $18.34 to $18.50 in a research note on Thursday, August 25th. BTIG Research began coverage on shares of DDR Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Mizuho cut shares of DDR Corp. from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $19.00 to $17.00 in a research note on Monday, July 11th. Finally, Raymond James Financial Inc. began coverage on shares of DDR Corp. in a research note on Monday, July 25th. They issued an “outperform” rating and a $21.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. DDR Corp. currently has an average rating of “Hold” and an average target price of $18.77.
DDR Corp. (NYSE:DDR) opened at 17.59 on Monday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 29.51 and a beta of 1.04. DDR Corp. has a 12 month low of $14.99 and a 12 month high of $19.92. The company’s 50-day moving average is $18.90 and its 200-day moving average is $18.00.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The company earned $245.90 million during the quarter, compared to analysts’ expectations of $243.03 million. DDR Corp. had a net margin of 24.27% and a return on equity of 7.76%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, equities research analysts anticipate that DDR Corp. will post $1.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.32%. DDR Corp.’s dividend payout ratio is currently 126.67%.
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.
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