Credit Suisse AG increased its position in DDR Corp. (NYSE:DDR) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,710,204 shares of the real estate investment trust’s stock after buying an additional 58,083 shares during the period. Credit Suisse AG owned about 0.47% of DDR Corp. worth $21,429,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of DDR. Oxford Asset Management bought a new position in shares of DDR Corp. during the first quarter worth $163,000. CrestPoint Capital Management LLC bought a new position in shares of DDR Corp. during the first quarter worth $165,000. Koch Industries Inc. bought a new position in shares of DDR Corp. during the first quarter worth $165,000. United Capital Financial Advisers LLC bought a new position in shares of DDR Corp. during the fourth quarter worth $181,000. Finally, World Asset Management Inc increased its position in shares of 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. 82.42% of the stock is currently owned by institutional investors.
Shares of DDR Corp. (NYSE DDR) traded down 4.91% during midday trading on Friday, hitting $10.26. The stock had a trading volume of 5,016,903 shares. The stock’s 50 day moving average price is $9.29 and its 200 day moving average price is $11.73. DDR Corp. has a 12 month low of $8.11 and a 12 month high of $19.92. The firm’s market cap is $3.77 billion.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share 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 1.22%. The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts forecast that DDR Corp. will post ($0.15) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.41%. DDR Corp.’s payout ratio is currently -379.98%.
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A number of brokerages recently weighed in on DDR. Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $13.00 in a report on Thursday. KeyCorp reaffirmed an “overweight” rating and set a $13.00 price objective (down from $16.50) on shares of DDR Corp. in a report on Wednesday, June 28th. BidaskClub raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of DDR Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, TheStreet downgraded shares of DDR Corp. from a “c-” rating to a “d+” rating in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.32.
In related news, major shareholder Katharina Otto-Bernstein acquired 500,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $9.40 per share, with a total value of $4,700,000.00. Following the transaction, the insider now directly owns 16,255,505 shares in the company, valued at $152,801,747. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David R. Lukes acquired 170,000 shares of the stock in a transaction dated Friday, May 12th. The shares were bought at an average cost of $9.48 per share, for a total transaction of $1,611,600.00. Following the completion of the transaction, the chief executive officer now owns 372,948 shares in the company, valued at $3,535,547.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,355,325 shares of company stock worth $12,692,310. Insiders own 16.20% 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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