Nisa Investment Advisors LLC Sells 11,850 Shares of DDR Corp. (DDR)
Nisa Investment Advisors LLC reduced its stake in DDR Corp. (NYSE:DDR) by 25.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,260 shares of the real estate investment trust’s stock after selling 11,850 shares during the period. Nisa Investment Advisors LLC’s holdings in DDR Corp. were worth $320,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of DDR. Oxford Asset Management acquired a new position in DDR Corp. during the first quarter valued at about $163,000. CrestPoint Capital Management LLC acquired a new position in DDR Corp. during the first quarter valued at about $165,000. Koch Industries Inc. acquired a new position in DDR Corp. during the first quarter valued at about $165,000. World Asset Management Inc raised its position in DDR Corp. by 2.0% in the first quarter. World Asset Management Inc now owns 15,650 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 311 shares during the period. Finally, SG Americas Securities LLC raised its position in DDR Corp. by 22.8% in the first quarter. SG Americas Securities LLC now owns 16,910 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 3,135 shares during the period. 81.63% of the stock is owned by hedge funds and other institutional investors.
DDR Corp. (NYSE:DDR) traded down 0.50% during mid-day trading on Friday, hitting $10.00. 6,500,494 shares of the stock traded hands. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $19.22. The firm’s market cap is $3.67 billion. The firm’s 50-day moving average price is $9.61 and its 200-day moving average price is $11.39.
DDR Corp. (NYSE:DDR) last released 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 Zacks’ consensus estimate of $0.28 by $0.22. The company 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%. DDR Corp.’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, equities analysts forecast that DDR Corp. will post ($0.11) earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $12.00 to $13.00 in a research report on Thursday, July 27th. KeyCorp reissued an “overweight” rating and issued a $13.00 price target (down previously from $16.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. BidaskClub raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, TheStreet lowered shares of DDR Corp. from a “c-” rating to a “d+” rating in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.32.
In other DDR Corp. news, CEO David R. Lukes bought 60,000 shares of DDR Corp. stock in a transaction on Wednesday, June 21st. The shares were purchased at an average cost of $8.37 per share, with a total value of $502,200.00. Following the acquisition, the chief executive officer now directly owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Terrance R. Ahern bought 59,000 shares of DDR Corp. stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the acquisition, the director now directly owns 323,060 shares in the company, valued at $2,736,318.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 132,325 shares of company stock valued at $1,119,330. 16.20% of the stock is owned by corporate insiders.
DDR Corp. Company 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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