Public Employees Retirement Association of Colorado Has $613,000 Position in DDR Corp. (DDR)
Public Employees Retirement Association of Colorado lowered its position in shares of DDR Corp. (NYSE:DDR) by 0.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 67,634 shares of the real estate investment trust’s stock after selling 31 shares during the period. Public Employees Retirement Association of Colorado’s holdings in DDR Corp. were worth $613,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Oxford Asset Management acquired a new stake in shares of DDR Corp. during the first quarter worth about $163,000. Koch Industries Inc. acquired a new stake in shares of DDR Corp. during the first quarter worth about $165,000. Greenleaf Trust acquired a new stake in shares of DDR Corp. during the second quarter worth about $123,000. Parametrica Management Ltd acquired a new stake in shares of DDR Corp. during the second quarter worth about $127,000. Finally, World Asset Management Inc boosted its stake in shares of 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 worth $196,000 after buying an additional 311 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.
DDR Corp. (NYSE DDR) opened at 9.67 on Monday. The stock’s market capitalization is $3.55 billion. The company has a 50-day moving average of $9.73 and a 200 day moving average of $11.21. DDR Corp. has a 12 month low of $8.11 and a 12 month high of $19.22.
DDR Corp. (NYSE:DDR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities research analysts anticipate that DDR Corp. will post ($0.10) earnings per share for the current fiscal year.
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DDR has been the subject of a number of recent analyst reports. Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of DDR Corp. in a research report on Tuesday, June 20th. J P Morgan Chase & Co restated a “neutral” rating and set a $12.00 price target (down from $14.50) on shares of DDR Corp. in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $14.00 price target on shares of DDR Corp. in a research report on Thursday, April 27th. One equities 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 a consensus target price of $14.32.
In other DDR Corp. news, Director Terrance R. Ahern acquired 59,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was acquired 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 approximately $2,736,318.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David R. Lukes acquired 60,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average cost of $8.37 per share, with a total value of $502,200.00. Following the completion of the purchase, the chief executive officer now directly owns 432,948 shares in the company, valued at $3,623,774.76. The disclosure for this purchase can be found here. Insiders acquired a total of 132,325 shares of company stock valued at $1,119,330 over the last three months. Corporate insiders own 16.20% of the company’s stock.
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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