California Public Employees Retirement System Has $9.09 Million Position in DDR Corp (DDR)
California Public Employees Retirement System boosted its stake in DDR Corp (NYSE:DDR) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,014,812 shares of the real estate investment trust’s stock after buying an additional 132,106 shares during the quarter. California Public Employees Retirement System’s holdings in DDR were worth $9,093,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lourd Capital LLC purchased a new stake in DDR in the 4th quarter valued at $136,000. GSA Capital Partners LLP purchased a new stake in shares of DDR during the 3rd quarter valued at $151,000. The Manufacturers Life Insurance Company increased its position in shares of DDR by 24.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,930 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 4,768 shares during the last quarter. Royal Bank of Canada increased its position in shares of DDR by 317.9% during the 2nd quarter. Royal Bank of Canada now owns 24,049 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 18,294 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of DDR during the 4th quarter valued at $242,000. 79.17% of the stock is owned by institutional investors and hedge funds.
DDR Corp (NYSE DDR) opened at $7.92 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.82. The firm has a market capitalization of $2,923.66, a price-to-earnings ratio of 6.71, a PEG ratio of 1.58 and a beta of 0.61. DDR Corp has a 12 month low of $6.77 and a 12 month high of $14.66.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.76 annualized dividend and a dividend yield of 9.60%. DDR’s payout ratio is -104.11%.
DDR has been the subject of several research analyst reports. Zacks Investment Research lowered DDR from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $9.00 target price (down from $11.00) on shares of DDR in a research report on Tuesday, November 7th. Raymond James Financial reaffirmed a “buy” rating on shares of DDR in a research report on Friday, December 15th. Citigroup reaffirmed a “buy” rating on shares of DDR in a research report on Friday, December 15th. Finally, Boenning Scattergood reaffirmed a “sell” rating on shares of DDR in a research report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.65.
In other news, Director Alexander Otto purchased 1,351,558 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $7.81 per share, for a total transaction of $10,555,667.98. Following the purchase, the director now owns 48,963,634 shares of the company’s stock, valued at $382,405,981.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.10% of the stock is currently owned by corporate insiders.
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DDR Company Profile
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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