Alexander Otto Purchases 281,301 Shares of DDR Corp. (DDR) Stock
DDR Corp. (NYSE:DDR) Director Alexander Otto bought 281,301 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were purchased at an average cost of $14.91 per share, with a total value of $4,194,197.91. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
DDR Corp. (NYSE:DDR) opened at 15.32 on Thursday. The company’s 50 day moving average is $15.97 and its 200-day moving average is $17.66. DDR Corp. has a 52-week low of $14.67 and a 52-week high of $19.92. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 59.61 and a beta of 0.94.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. DDR Corp. had a net margin of 12.17% and a return on equity of 3.93%. The company earned $245.20 million during the quarter, compared to analyst estimates of $243.84 million. During the same period in the prior year, the business posted $0.31 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that DDR Corp. will post $1.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Tuesday, December 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, December 9th. This represents a $0.76 dividend on an annualized basis and a yield of 4.96%. DDR Corp.’s dividend payout ratio is currently 281.49%.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in DDR Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 46,531,204 shares of the real estate investment trust’s stock worth $844,076,000 after buying an additional 1,523,294 shares in the last quarter. Shinko Asset Management Co. Ltd. raised its position in shares of DDR Corp. by 21.5% in the third quarter. Shinko Asset Management Co. Ltd. now owns 12,559,714 shares of the real estate investment trust’s stock valued at $218,916,000 after buying an additional 2,221,054 shares during the period. State Street Corp raised its position in shares of DDR Corp. by 1.7% in the second quarter. State Street Corp now owns 8,910,140 shares of the real estate investment trust’s stock valued at $161,630,000 after buying an additional 150,349 shares during the period. Bank of New York Mellon Corp raised its position in shares of DDR Corp. by 278.6% in the third quarter. Bank of New York Mellon Corp now owns 7,060,654 shares of the real estate investment trust’s stock valued at $123,067,000 after buying an additional 5,195,883 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of DDR Corp. by 15.3% in the third quarter. Victory Capital Management Inc. now owns 5,618,555 shares of the real estate investment trust’s stock valued at $97,931,000 after buying an additional 746,888 shares during the period. Institutional investors own 89.85% of the company’s stock.
DDR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of DDR Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, October 3rd. Bank of America Corp. cut shares of DDR Corp. from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $18.34 to $18.50 in a report on Thursday, August 25th. Jefferies Group restated a “hold” rating on shares of DDR Corp. in a report on Tuesday, September 13th. KeyCorp set a $21.00 price target on shares of DDR Corp. and gave the stock a “buy” rating in a report on Thursday, October 6th. Finally, Boenning Scattergood cut shares of DDR Corp. from an “outperform” rating to a “neutral” rating and set a $15.50 price target for the company. in a report on Tuesday, October 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. DDR Corp. presently has an average rating of “Hold” and an average target price of $18.62.
DDR Corp. Company Profile
DDR Corp. is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: shopping centers and loan investments. The Company is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, it engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers.
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