DDR Corp (DDR) Stake Raised by Millennium Management LLC
Millennium Management LLC grew its stake in DDR Corp (NYSE:DDR) by 177.3% during the second quarter, HoldingsChannel reports. The firm owned 1,547,215 shares of the real estate investment trust’s stock after purchasing an additional 989,253 shares during the period. Millennium Management LLC’s holdings in DDR were worth $27,695,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in DDR during the first quarter worth about $116,000. American Century Companies Inc. acquired a new stake in DDR during the first quarter worth about $173,000. HRT Financial LLC acquired a new stake in DDR during the first quarter worth about $194,000. Point72 Hong Kong Ltd acquired a new stake in DDR during the second quarter worth about $196,000. Finally, Laurion Capital Management LP acquired a new stake in DDR during the second quarter worth about $236,000. Institutional investors and hedge funds own 81.77% of the company’s stock.
NYSE DDR opened at $13.32 on Wednesday. DDR Corp has a 52 week low of $10.95 and a 52 week high of $16.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 1.64 and a beta of 0.49.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Wednesday, September 26th will be given a $0.20 dividend. This is a boost from DDR’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a $0.80 annualized dividend and a yield of 6.01%. DDR’s dividend payout ratio is 64.41%.
Several equities research analysts recently weighed in on the stock. Citigroup lowered shares of DDR from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Friday, September 14th. Zacks Investment Research upgraded shares of DDR from a “strong sell” rating to a “hold” rating in a research note on Monday, September 3rd. Deutsche Bank lowered shares of DDR from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.00 to $14.00 in a research note on Tuesday, August 28th. SunTrust Banks reiterated a “hold” rating and set a $14.00 price objective on shares of DDR in a research note on Thursday, August 16th. Finally, ValuEngine upgraded shares of DDR from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.56.
In other news, Director Alexander Otto bought 633,912 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was purchased at an average price of $17.89 per share, for a total transaction of $11,340,685.68. Following the transaction, the director now owns 32,429,638 shares in the company, valued at $580,166,223.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.60% of the stock is currently owned by corporate insiders.
DDR Company Profile
DDR is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.
Further Reading: Moving Average (MA)
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