DDR Corp. (DDR) Shares Sold by Clearbridge Investments LLC
Clearbridge Investments LLC reduced its stake in shares of DDR Corp. (NYSE:DDR) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,930 shares of the real estate investment trust’s stock after selling 2,620 shares during the period. Clearbridge Investments LLC’s holdings in DDR Corp. were worth $939,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Oxford Asset Management purchased a new stake in shares of DDR Corp. during the first quarter valued at about $163,000. CrestPoint Capital Management LLC purchased a new stake in shares of DDR Corp. during the first quarter valued at about $165,000. Koch Industries Inc. purchased a new stake in shares of DDR Corp. during the first quarter valued at about $165,000. United Capital Financial Advisers LLC purchased a new stake in shares of DDR Corp. during the fourth quarter valued at about $181,000. Finally, World Asset Management Inc raised its stake in shares of DDR Corp. by 2.0% in the first quarter. World Asset Management Inc now owns 15,650 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
DDR Corp. (NYSE DDR) opened at 9.02 on Wednesday. DDR Corp. has a 52-week low of $8.11 and a 52-week high of $19.92. The stock’s market capitalization is $3.31 billion. The company’s 50-day moving average price is $8.99 and its 200 day moving average price is $12.52.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $230.98 million for the quarter, compared to analysts’ expectations of $230.91 million. DDR Corp. had a positive return on equity of 1.60% and a negative net margin of 4.17%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Equities analysts forecast that DDR Corp. will post ($0.15) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 8.43%. DDR Corp.’s dividend payout ratio is presently -475.00%.
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DDR has been the topic of several research reports. Citigroup Inc. lowered their target price on DDR Corp. from $16.50 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. TheStreet lowered DDR Corp. from a “c-” rating to a “d+” rating in a research note on Thursday, May 18th. Royal Bank Of Canada reiterated a “hold” rating and set a $14.00 price objective on shares of DDR Corp. in a research note on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and set a $13.00 price objective on shares of DDR Corp. in a research note on Monday, April 24th. Finally, ValuEngine lowered DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. DDR Corp. has an average rating of “Hold” and an average target price of $15.43.
In other DDR Corp. news, Director Alexander Otto purchased 500,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $9.52 per share, with a total value of $4,760,000.00. Following the completion of the acquisition, the director now directly owns 44,509,893 shares in the company, valued at $423,734,181.36. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Terrance R. Ahern purchased 59,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the acquisition, the director now owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,357,325 shares of company stock worth $12,714,410. 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. 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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