DDR Corp. (NYSE:DDR) Position Raised by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP increased its position in shares of DDR Corp. (NYSE:DDR) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,221,527 shares of the real estate investment trust’s stock after buying an additional 50,804 shares during the period. Dimensional Fund Advisors LP owned about 1.15% of DDR Corp. worth $52,895,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of DDR Corp. by 2.5% in the first quarter. Vanguard Group Inc. now owns 48,474,427 shares of the real estate investment trust’s stock worth $607,386,000 after buying an additional 1,163,740 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of DDR Corp. by 14.4% in the first quarter. Victory Capital Management Inc. now owns 9,489,397 shares of the real estate investment trust’s stock worth $118,902,000 after buying an additional 1,193,658 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of DDR Corp. by 13,961.6% in the first quarter. Principal Financial Group Inc. now owns 5,743,758 shares of the real estate investment trust’s stock worth $71,970,000 after buying an additional 5,702,911 shares during the last quarter. Prudential Financial Inc. increased its position in shares of DDR Corp. by 51.6% in the first quarter. Prudential Financial Inc. now owns 4,522,279 shares of the real estate investment trust’s stock worth $56,664,000 after buying an additional 1,539,275 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DDR Corp. during the fourth quarter worth about $34,076,000. 81.63% of the stock is owned by institutional investors.
DDR Corp. (NYSE:DDR) traded down 1.28% on Tuesday, reaching $10.01. The company had a trading volume of 4,252,151 shares. The company’s 50-day moving average is $9.41 and its 200-day moving average is $11.58. The company’s market capitalization is $3.67 billion. DDR Corp. has a 52-week low of $8.11 and a 52-week high of $19.43.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.22. The firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Equities analysts anticipate that DDR Corp. will post ($0.11) EPS for the current fiscal year.
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DDR has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $14.00 target price on shares of DDR Corp. in a research note on Thursday, April 27th. Citigroup Inc. reduced their target price on DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. ValuEngine downgraded DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.00 target price on shares of DDR Corp. in a research note on Monday, April 24th. Finally, BidaskClub raised DDR Corp. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.32.
In other news, CEO David R. Lukes acquired 170,000 shares of DDR Corp. stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $9.48 per share, with a total value of $1,611,600.00. Following the completion of the acquisition, the chief executive officer now owns 372,948 shares in the company, valued at approximately $3,535,547.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Katharina Otto-Bernstein acquired 500,000 shares of DDR Corp. stock in a transaction that occurred on 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 completion of the acquisition, the insider now owns 16,255,505 shares of the company’s stock, valued at approximately $152,801,747. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 855,325 shares of company stock valued at $7,932,310. 16.20% of the stock is currently owned by insiders.
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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