Sei Investments Co. Boosts Position in DDR Corp. (NYSE:DDR)
Sei Investments Co. increased its stake in shares of DDR Corp. (NYSE:DDR) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 1,072,427 shares of the real estate investment trust’s stock after buying an additional 15,936 shares during the period. Sei Investments Co.’s holdings in DDR Corp. were worth $9,727,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in DDR. Capital Fund Management S.A. bought a new stake in DDR Corp. during the first quarter valued at about $4,312,000. American Century Companies Inc. bought a new stake in DDR Corp. during the first quarter valued at about $6,876,000. First Trust Advisors LP boosted its stake in DDR Corp. by 37.1% in the first quarter. First Trust Advisors LP now owns 146,608 shares of the real estate investment trust’s stock valued at $1,837,000 after buying an additional 39,687 shares during the period. LSV Asset Management bought a new stake in DDR Corp. during the first quarter valued at about $7,365,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in DDR Corp. by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,405 shares of the real estate investment trust’s stock valued at $594,000 after buying an additional 269 shares during the period. 81.63% of the stock is owned by institutional investors.
DDR Corp. (NYSE DDR) opened at 10.05 on Friday. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $19.22. The company’s 50 day moving average is $9.57 and its 200 day moving average is $11.43. The company’s market cap is $3.69 billion.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $222.90 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The firm’s revenue was down 7.5% compared to the same quarter last year. Equities research analysts forecast that DDR Corp. will post ($0.11) EPS for the current year.
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Several equities research analysts have issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price objective on shares of DDR Corp. in a research report on Monday, April 24th. Royal Bank Of Canada restated a “hold” rating and issued a $14.00 price target on shares of DDR Corp. in a report on Thursday, April 27th. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $12.00 to $13.00 in a report on Thursday, July 27th. Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.32.
In other news, Director Terrance R. Ahern purchased 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, for a total transaction of $499,730.00. Following the completion of the purchase, the director now directly owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Makinen purchased 11,325 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief operating officer now directly owns 66,361 shares of the company’s stock, valued at $585,967.63. The disclosure for this purchase can be found here. Insiders purchased 132,325 shares of company stock valued at $1,119,330 in the last quarter. 16.20% of the stock is owned by insiders.
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).
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