Great West Life Assurance Co. Can Has $1.62 Million Position in DDR Corp. (DDR)
Great West Life Assurance Co. Can increased its position in shares of DDR Corp. (NYSE:DDR) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,399 shares of the real estate investment trust’s stock after buying an additional 202 shares during the period. Great West Life Assurance Co. Can’s holdings in DDR Corp. were worth $1,615,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in DDR. World Asset Management Inc raised its stake in 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 worth $196,000 after buying an additional 311 shares during the period. Swiss National Bank raised its stake in DDR Corp. by 0.6% in the first quarter. Swiss National Bank now owns 514,300 shares of the real estate investment trust’s stock worth $6,444,000 after buying an additional 3,100 shares during the period. Comerica Bank raised its stake in DDR Corp. by 12.9% in the first quarter. Comerica Bank now owns 29,142 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 3,328 shares during the period. Capital Fund Management S.A. bought a new stake in DDR Corp. during the first quarter worth $4,312,000. Finally, American Century Companies Inc. bought a new stake in DDR Corp. during the first quarter worth $6,876,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) opened at 9.62 on Wednesday. DDR Corp. has a 12-month low of $8.11 and a 12-month high of $19.22. The firm has a 50-day moving average price of $9.81 and a 200-day moving average price of $11.02. The company’s market cap is $3.53 billion.
DDR Corp. (NYSE:DDR) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.22. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities research analysts forecast that DDR Corp. will post ($0.10) earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on DDR. Boenning Scattergood reissued a “hold” rating on shares of DDR Corp. in a research note on Thursday, July 27th. Deutsche Bank AG raised DDR Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $12.00 to $13.00 in a research note on Thursday, July 27th. Zacks Investment Research raised DDR Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub raised DDR Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. dropped their price target on DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. DDR Corp. currently has an average rating of “Hold” and a consensus target price of $14.00.
In related news, COO Michael Makinen bought 11,325 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $8.83 per share, for a total transaction of $99,999.75. Following the completion of the acquisition, the chief operating officer now owns 66,361 shares in the company, valued at approximately $585,967.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Terrance R. Ahern bought 59,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was bought at an average price of $8.47 per share, with a total value of $499,730.00. Following the completion of the acquisition, the director now owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 132,325 shares of company stock valued at $1,119,330. 16.10% of the stock is currently owned by company insiders.
About DDR Corp.
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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