Macquarie Group Ltd. Has $21,687,000 Stake in DDR Corp. (DDR)
Macquarie Group Ltd. reduced its position in DDR Corp. (NYSE:DDR) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,195,529 shares of the real estate investment trust’s stock after selling 43,079 shares during the period. Macquarie Group Ltd. owned 0.33% of DDR Corp. worth $21,687,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of DDR. Vanguard Group Inc. boosted its position in shares of 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. boosted its position in shares of DDR Corp. by 14.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,338,660 shares of the real estate investment trust’s stock worth $187,543,000 after buying an additional 1,314,310 shares in the last quarter. State Street Corp boosted 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 worth $161,630,000 after buying an additional 150,349 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of DDR Corp. by 54.5% in the second quarter. Victory Capital Management Inc. now owns 4,871,667 shares of the real estate investment trust’s stock worth $88,373,000 after buying an additional 1,717,714 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of DDR Corp. by 7.3% in the second quarter. BlackRock Fund Advisors now owns 4,685,539 shares of the real estate investment trust’s stock worth $84,996,000 after buying an additional 320,216 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) traded up 0.86% during midday trading on Friday, reaching $15.19. The company had a trading volume of 1,155,810 shares. The company has a market cap of $5.55 billion, a PE ratio of 59.11 and a beta of 0.94. The company’s 50-day moving average is $15.58 and its 200 day moving average is $17.53. DDR Corp. has a 52-week low of $14.67 and a 52-week high of $19.92.
DDR Corp. (NYSE:DDR) last released its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. DDR Corp. had a return on equity of 3.93% and a net margin of 12.17%. The firm had revenue of $245.20 million for the quarter, compared to analyst estimates of $243.84 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast 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 issued a $0.19 dividend. The ex-dividend date is Friday, December 9th. This represents a $0.76 annualized dividend and a dividend yield of 5.00%. DDR Corp.’s dividend payout ratio (DPR) is currently 281.49%.
DDR has been the topic of a number of analyst reports. Boenning Scattergood cut DDR Corp. from an “outperform” rating to a “neutral” rating and set a $15.50 price target on the stock. in a research note on Tuesday, October 18th. Canaccord Genuity lifted their target price on DDR Corp. from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Zacks Investment Research cut DDR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. BTIG Research assumed coverage on DDR Corp. in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Jefferies Group reaffirmed a “hold” rating on shares of DDR Corp. in a research note on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.62.
In other DDR Corp. news, Director Alexander Otto purchased 281,301 shares of the stock in a transaction on Monday, November 14th. The stock was bought at an average cost of $14.91 per share, for a total transaction of $4,194,197.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas F. August purchased 30,100 shares of the stock in a transaction on Monday, October 31st. The stock was acquired at an average price of $15.22 per share, with a total value of $458,122.00. Following the completion of the acquisition, the insider now directly owns 25,000 shares of the company’s stock, valued at $380,500. The disclosure for this purchase can be found here. 16.20% of the stock is owned by company insiders.
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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