Marshall Wace North America L.P. Has $4.20 Million Stake in DDR Corp. (DDR)
Marshall Wace North America L.P. boosted its stake in DDR Corp. (NYSE:DDR) by 161.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 466,919 shares of the real estate investment trust’s stock after buying an additional 288,117 shares during the period. Marshall Wace North America L.P. owned 0.13% of DDR Corp. worth $4,202,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new stake in DDR Corp. during the second quarter valued at about $100,000. Janney Montgomery Scott LLC purchased a new stake in DDR Corp. during the second quarter valued at about $121,000. Greenleaf Trust purchased a new stake in DDR Corp. during the second quarter valued at about $123,000. Parametrica Management Ltd purchased a new stake in DDR Corp. during the second quarter valued at about $127,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in DDR Corp. during the second quarter valued at about $139,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Shares of DDR Corp. (DDR) opened at 9.68 on Friday. DDR Corp. has a one year low of $8.11 and a one year high of $19.22. The company’s 50-day moving average is $9.88 and its 200-day moving average is $10.86. The company’s market cap is $3.55 billion.
DDR Corp. (NYSE:DDR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.22. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. During the same period in the previous year, the company earned $0.33 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities analysts predict that DDR Corp. will post ($0.10) EPS for the current year.
DDR has been the subject of several analyst reports. Citigroup Inc. lowered their target price on shares of DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $12.00 to $13.00 in a report on Thursday, July 27th. TheStreet lowered shares of DDR Corp. from a “c-” rating to a “d+” rating in a report on Thursday, May 18th. Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $9.00 target price on shares of DDR Corp. in a report on Tuesday, June 20th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. DDR Corp. currently has a consensus rating of “Hold” and an average target price of $14.00.
In related news, Director Terrance R. Ahern bought 59,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average price of $8.47 per share, with a total value of $499,730.00. Following the completion of the transaction, the director now directly owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David R. Lukes bought 60,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of $8.37 per share, for a total transaction of $502,200.00. Following the transaction, the chief executive officer now directly owns 432,948 shares of the company’s stock, valued at $3,623,774.76. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
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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