DDR Corp. (DDR) Shares Sold by IBM Retirement Fund
IBM Retirement Fund reduced its stake in DDR Corp. (NYSE:DDR) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,159 shares of the real estate investment trust’s stock after selling 1,922 shares during the period. IBM Retirement Fund’s holdings in DDR Corp. were worth $508,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Prudential Financial Inc. increased its stake in DDR Corp. by 5.1% in the second quarter. Prudential Financial Inc. now owns 22,835 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 1,100 shares during the period. Dimensional Fund Advisors LP increased its stake in DDR Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,110,973 shares of the real estate investment trust’s stock worth $74,572,000 after buying an additional 204,526 shares during the period. Teacher Retirement System of Texas increased its stake in DDR Corp. by 6.6% in the second quarter. Teacher Retirement System of Texas now owns 320,196 shares of the real estate investment trust’s stock worth $5,808,000 after buying an additional 19,756 shares during the period. Nationwide Fund Advisors increased its stake in DDR Corp. by 19.6% in the second quarter. Nationwide Fund Advisors now owns 30,078 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 4,919 shares during the period. Finally, Schroder Investment Management Group increased its stake in DDR Corp. by 27.9% in the second quarter. Schroder Investment Management Group now owns 199,254 shares of the real estate investment trust’s stock worth $3,614,000 after buying an additional 43,455 shares during the period. 90.04% of the stock is owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) traded up 0.46% on Friday, hitting $15.21. The stock had a trading volume of 3,887,286 shares. The company has a 50-day moving average price of $15.18 and a 200-day moving average price of $17.01. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 59.18 and a beta of 0.90. DDR Corp. has a 52 week low of $14.67 and a 52 week high of $19.92.
DDR Corp. (NYSE:DDR) last announced its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business 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 revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Equities research analysts anticipate that DDR Corp. will post $0.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Tuesday, December 13th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, December 9th. DDR Corp.’s dividend payout ratio is currently 281.49%.
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DDR has been the subject of a number of recent research reports. Boenning Scattergood downgraded DDR Corp. from an “outperform” rating to a “neutral” rating and set a $15.50 price target for the company. in a research note on Tuesday, October 18th. Zacks Investment Research downgraded DDR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Morgan Stanley downgraded DDR Corp. from an “equal weight” rating to an “underweight” rating in a research note on Monday, December 12th. They noted that the move was a valuation call. Mizuho raised DDR Corp. from an “underperform” rating to a “neutral” rating and set a $15.00 price target for the company in a research note on Monday, November 7th. Finally, KeyCorp set a $21.00 price objective on DDR Corp. and gave the company a “buy” rating in a research note on Thursday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.67.
In related news, insider Thomas F. August bought 30,100 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was acquired at an average cost of $15.22 per share, with a total value of $458,122.00. Following the transaction, the insider now directly owns 25,000 shares in the company, valued at $380,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander Otto bought 86,000 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $14.82 per share, with a total value of $1,274,520.00. Following the completion of the transaction, the director now owns 42,603,920 shares in the company, valued at $631,390,094.40. The disclosure for this purchase can be found here. Corporate insiders own 16.20% of the company’s stock.
DDR Corp. Company Profile
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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