Piedmont Investment Advisors LLC Lowers Stake in DDR Corp (DDR)
Piedmont Investment Advisors LLC cut its holdings in DDR Corp (NYSE:DDR) by 30.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,351 shares of the real estate investment trust’s stock after selling 40,100 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in DDR were worth $846,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Sigma Planning Corp acquired a new stake in shares of DDR in the second quarter valued at approximately $100,000. Cutter & CO Brokerage Inc. acquired a new stake in DDR during the second quarter worth approximately $104,000. Cambridge Investment Research Advisors Inc. acquired a new stake in DDR during the second quarter worth approximately $111,000. Janney Montgomery Scott LLC acquired a new stake in DDR during the second quarter worth approximately $121,000. Finally, 1st Global Advisors Inc. acquired a new stake in DDR during the second quarter worth approximately $131,000. Institutional investors and hedge funds own 80.04% of the company’s stock.
DDR Corp (NYSE DDR) opened at $8.86 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $3,264.60, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.76. DDR Corp has a one year low of $7.26 and a one year high of $15.57.
DDR (NYSE:DDR) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The company had revenue of $220.10 million for the quarter, compared to the consensus estimate of $218.58 million. DDR had a net margin of 1.11% and a return on equity of 3.48%. DDR’s revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. equities analysts expect that DDR Corp will post 1.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend is Monday, December 11th. DDR’s dividend payout ratio is currently -1,900.00%.
A number of brokerages recently issued reports on DDR. Stifel Nicolaus began coverage on shares of DDR in a research report on Thursday, November 30th. They set a “buy” rating and a $8.25 target price on the stock. Citigroup restated a “buy” rating on shares of DDR in a research report on Friday. Morgan Stanley restated an “equal weight” rating and set a $8.25 target price on shares of DDR in a research report on Thursday. KeyCorp restated a “buy” rating and set a $13.00 target price on shares of DDR in a research report on Friday, September 1st. Finally, ValuEngine lowered shares of DDR from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.36.
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DDR 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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