Insider Buying: DDR Corp. (DDR) Director Purchases 218,699 Shares of Stock
DDR Corp. (NYSE:DDR) Director Alexander Otto purchased 218,699 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were bought at an average cost of $14.98 per share, with a total value of $3,276,111.02. Following the transaction, the director now directly owns 42,517,920 shares of the company’s stock, valued at approximately $636,918,441.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Alexander Otto also recently made the following trade(s):
- On Monday, November 14th, Alexander Otto purchased 281,301 shares of DDR Corp. stock. The shares were bought at an average cost of $14.91 per share, with a total value of $4,194,197.91.
Shares of DDR Corp. (NYSE:DDR) traded up 0.40% on Friday, hitting $15.04. The stock had a trading volume of 2,724,556 shares. The firm has a 50 day moving average price of $15.91 and a 200-day moving average price of $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 cap of $5.50 billion, a price-to-earnings ratio of 58.52 and a beta of 0.94.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $245.20 million for the quarter, compared to the consensus estimate of $243.84 million. DDR Corp. had a return on equity of 3.93% and a net margin of 12.17%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Analysts anticipate that DDR Corp. will post $1.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Tuesday, December 13th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.07%. The ex-dividend date is Friday, December 9th. DDR Corp.’s dividend payout ratio is currently 281.49%.
A number of analysts have recently weighed in on DDR shares. Zacks Investment Research raised shares of DDR Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, October 3rd. Bank of America Corp. cut DDR Corp. from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $18.34 to $18.50 in a research note on Thursday, August 25th. Jefferies Group restated a “hold” rating on shares of DDR Corp. in a research note on Tuesday, September 13th. KeyCorp set a $21.00 price objective on DDR Corp. and gave the stock a “buy” rating in a research note on Thursday, October 6th. Finally, Boenning Scattergood cut DDR Corp. from an “outperform” rating to a “neutral” rating and set a $15.50 price objective on the stock. in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.62.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of DDR Corp. during the second quarter valued at approximately $2,505,000. Canada Pension Plan Investment Board increased its position in shares of DDR Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,900 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 100 shares in the last quarter. Boothbay Fund Management LLC increased its position in shares of DDR Corp. by 73.0% in the first quarter. Boothbay Fund Management LLC now owns 56,176 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 23,707 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of DDR Corp. by 38.5% in the second quarter. Ameriprise Financial Inc. now owns 394,301 shares of the real estate investment trust’s stock valued at $7,156,000 after buying an additional 109,513 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of DDR Corp. during the second quarter valued at approximately $8,799,000. 89.85% of the stock is currently owned by institutional investors.
About DDR Corp.
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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