State of New Jersey Common Pension Fund D Has $2.99 Million Position in DDR Corp. (DDR)
State of New Jersey Common Pension Fund D boosted its position in shares of DDR Corp. (NYSE:DDR) by 17.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 330,000 shares of the real estate investment trust’s stock after buying an additional 50,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of DDR Corp. worth $2,993,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Oxford Asset Management purchased a new stake in DDR Corp. during the first quarter worth approximately $163,000. Koch Industries Inc. purchased a new stake in DDR Corp. during the first quarter worth approximately $165,000. Janney Montgomery Scott LLC purchased a new stake in DDR Corp. during the second quarter worth approximately $121,000. Greenleaf Trust purchased a new stake in DDR Corp. during the second quarter worth approximately $123,000. Finally, Parametrica Management Ltd purchased a new stake in DDR Corp. during the second quarter worth approximately $127,000. 80.52% of the stock is owned by institutional investors.
DDR Corp. (NYSE DDR) opened at 9.87 on Thursday. The stock’s market cap is $3.62 billion. DDR Corp. has a 12-month low of $8.11 and a 12-month high of $19.22. The firm has a 50 day moving average of $9.70 and a 200-day moving average of $11.26.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.22. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. DDR Corp.’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts expect that DDR Corp. will post ($0.10) earnings per share for the current year.
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A number of research firms recently commented on DDR. Boenning Scattergood reissued a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Zacks Investment Research raised shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of DDR Corp. in a research report on Tuesday, June 20th. J P Morgan Chase & Co reissued a “neutral” rating and set a $12.00 target price (down previously from $14.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. Finally, Deutsche Bank AG raised shares of DDR Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $12.00 to $13.00 in a research report on Thursday, July 27th. One investment 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 stock presently has a consensus rating of “Hold” and an average target price of $14.32.
In other news, Director Terrance R. Ahern purchased 59,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average cost of $8.47 per share, with a total value of $499,730.00. Following the purchase, the director now directly owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Makinen purchased 11,325 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $8.83 per share, for a total transaction of $99,999.75. Following the completion of the purchase, the chief operating officer now directly owns 66,361 shares in the company, valued at $585,967.63. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 132,325 shares of company stock worth $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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