NGAM Advisors L.P. Has $1.94 Million Stake in DDR Corp. (NYSE:DDR)
NGAM Advisors L.P. decreased its position in DDR Corp. (NYSE:DDR) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,586 shares of the real estate investment trust’s stock after selling 8,889 shares during the period. NGAM Advisors L.P.’s holdings in DDR Corp. were worth $1,937,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in shares of DDR Corp. during the first quarter worth about $326,000. Swiss National Bank increased its position in shares of 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. Clinton Group Inc. increased its position in shares of DDR Corp. by 1,237.5% in the first quarter. Clinton Group Inc. now owns 611,104 shares of the real estate investment trust’s stock worth $7,657,000 after buying an additional 565,413 shares during the period. Goldman Sachs Group Inc. increased its position in shares of DDR Corp. by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock worth $290,325,000 after buying an additional 4,348,169 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of DDR Corp. by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,221,527 shares of the real estate investment trust’s stock worth $52,895,000 after buying an additional 50,804 shares during the period. Institutional investors own 81.63% of the company’s stock.
Shares of DDR Corp. (DDR) opened at 10.00 on Friday. DDR Corp. has a one year low of $8.11 and a one year high of $19.22. The company’s market capitalization is $3.67 billion. The firm has a 50-day moving average price of $9.61 and a 200-day moving average price of $11.39.
DDR Corp. (NYSE:DDR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.22. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $222.90 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was down 7.5% on a year-over-year basis. Equities analysts forecast that DDR Corp. will post ($0.11) earnings per share for the current year.
A number of equities analysts have recently issued reports on DDR shares. Boenning Scattergood upgraded DDR Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday, May 15th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $13.00 price objective on shares of DDR Corp. in a research report on Friday, May 26th. TheStreet downgraded DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. BidaskClub upgraded DDR Corp. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research downgraded DDR Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.32.
In other news, COO Michael Makinen bought 11,325 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was purchased at an average price of $8.83 per share, with a total value of $99,999.75. Following the transaction, the chief operating officer now owns 66,361 shares of the company’s stock, valued at $585,967.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David R. Lukes bought 60,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average cost of $8.37 per share, with a total value of $502,200.00. Following the transaction, the chief executive officer now directly owns 432,948 shares in the company, valued at approximately $3,623,774.76. The disclosure for this purchase can be found here. Insiders bought a total of 132,325 shares of company stock valued at $1,119,330 in the last three months. Corporate 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).
Want to see what other hedge funds are holding DDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DDR Corp. (NYSE:DDR).
Receive News & Ratings for DDR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DDR Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.