Axa trimmed its holdings in shares of DDR Corp. (NYSE:DDR) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,054 shares of the real estate investment trust’s stock after selling 17,100 shares during the period. Axa owned 0.15% of DDR Corp. worth $4,980,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in DDR. Sigma Planning Corp acquired a new stake in DDR Corp. during the 2nd quarter valued at $100,000. Cutter & CO Brokerage Inc. acquired a new stake in DDR Corp. during the 2nd quarter valued at $104,000. Cambridge Investment Research Advisors Inc. acquired a new stake in DDR Corp. during the 2nd quarter valued at $111,000. Janney Montgomery Scott LLC acquired a new stake in DDR Corp. during the 2nd quarter valued at $121,000. Finally, Greenleaf Trust acquired a new stake in DDR Corp. during the 2nd quarter valued at $123,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO David R. Lukes purchased 60,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were acquired at an average price of $8.37 per share, with a total value of $502,200.00. Following the completion of the transaction, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Terrance R. Ahern purchased 59,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were purchased at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the transaction, the director now directly owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
Shares of DDR Corp. (DDR) opened at 10.14 on Friday. The company’s 50-day moving average price is $9.92 and its 200 day moving average price is $10.52. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $17.96. The firm’s market cap is $3.72 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). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities analysts anticipate that DDR Corp. will post ($0.08) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 25th. This represents a $0.76 dividend on an annualized basis and a yield of 7.50%. DDR Corp.’s dividend payout ratio (DPR) is currently -379.98%.
A number of equities research analysts recently weighed in on the company. ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reiterated a “buy” rating and issued a $13.00 price objective on shares of DDR Corp. in a research report on Friday, September 1st. Zacks Investment Research upgraded DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Boenning Scattergood reiterated a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Finally, Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $12.00 to $13.00 in a research report on Thursday, July 27th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.00.
DDR Corp. 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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