DDR Corp. (DDR) Shares Bought by LSV Asset Management
LSV Asset Management grew its holdings in shares of DDR Corp. (NYSE:DDR) by 369.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,758,800 shares of the real estate investment trust’s stock after buying an additional 2,171,000 shares during the period. LSV Asset Management owned 0.75% of DDR Corp. worth $25,022,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in shares of DDR Corp. during the first quarter valued at approximately $326,000. Swiss National Bank increased its stake in shares of DDR Corp. by 0.6% during the first quarter. Swiss National Bank now owns 514,300 shares of the real estate investment trust’s stock valued at $6,444,000 after buying an additional 3,100 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of DDR Corp. during the second quarter valued at approximately $121,000. Clinton Group Inc. increased its stake in shares of DDR Corp. by 1,237.5% during the first quarter. Clinton Group Inc. now owns 611,104 shares of the real estate investment trust’s stock valued at $7,657,000 after buying an additional 565,413 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of DDR Corp. by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock valued at $290,325,000 after buying an additional 4,348,169 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.
DDR has been the topic of several recent research reports. Boenning Scattergood raised DDR Corp. from an “underperform” rating to a “neutral” rating in a research note on Monday, May 15th. They noted that the move was a valuation call. TheStreet cut DDR Corp. from a “c-” rating to a “d+” rating in a research note on Thursday, May 18th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 price target on shares of DDR Corp. in a research note on Friday, May 26th. ValuEngine cut DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut DDR Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $14.00.
Shares of DDR Corp. (NYSE DDR) opened at 9.94 on Tuesday. DDR Corp. has a 1-year low of $8.11 and a 1-year high of $18.16. The stock has a 50 day moving average price of $9.93 and a 200-day moving average price of $10.60. The stock’s market capitalization is $3.65 billion.
DDR Corp. (NYSE:DDR) last announced its quarterly earnings results 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. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $222.90 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. On average, analysts forecast that DDR Corp. will post ($0.07) earnings per share for the current year.
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In related news, CEO David R. Lukes purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $8.37 per share, for a total transaction of $502,200.00. Following the acquisition, the chief executive officer now owns 432,948 shares of the company’s stock, valued at approximately $3,623,774.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Terrance R. Ahern purchased 59,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was bought at an average price 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 approximately $2,736,318.20. The disclosure for this purchase can be found here. Company insiders own 16.10% of the company’s stock.
DDR Corp. 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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