DDR Corp. (DDR) Holdings Reduced by Vanguard Group Inc.
Vanguard Group Inc. decreased its holdings in DDR Corp. (NYSE:DDR) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,242,345 shares of the real estate investment trust’s stock after selling 232,082 shares during the quarter. Vanguard Group Inc. owned approximately 13.15% of DDR Corp. worth $437,558,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of DDR. Nationwide Fund Advisors grew its holdings in DDR Corp. by 73.0% in the 1st quarter. Nationwide Fund Advisors now owns 47,252 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 19,944 shares during the period. First Trust Advisors LP grew its holdings in DDR Corp. by 37.1% in the 1st quarter. First Trust Advisors LP now owns 146,608 shares of the real estate investment trust’s stock valued at $1,837,000 after buying an additional 39,687 shares during the period. Comerica Bank grew its holdings in DDR Corp. by 12.9% in the 1st quarter. Comerica Bank now owns 29,142 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 3,328 shares during the period. World Asset Management Inc grew its holdings in DDR Corp. by 2.0% in the 1st 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, UBS Asset Management Americas Inc. grew its holdings in DDR Corp. by 4.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,218,859 shares of the real estate investment trust’s stock valued at $15,272,000 after buying an additional 51,298 shares during the period. Institutional investors own 80.24% of the company’s stock.
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DDR Corp. (DDR) opened at 9.12 on Thursday. The firm’s market capitalization is $3.35 billion. DDR Corp. has a 12 month low of $8.11 and a 12 month high of $16.78. The firm has a 50 day moving average price of $9.65 and a 200-day moving average price of $10.10.
DDR Corp. (NYSE:DDR) last announced 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 positive return on equity of 1.24% and a negative net margin of 5.48%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities analysts forecast that DDR Corp. will post ($0.12) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 8.33%. The ex-dividend date is Monday, September 25th. DDR Corp.’s dividend payout ratio (DPR) is presently -379.98%.
A number of analysts have recently issued reports on DDR shares. Zacks Investment Research upgraded DDR Corp. from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday. Boenning Scattergood cut DDR Corp. from a “neutral” rating to an “under perform” rating in a report on Tuesday. ValuEngine upgraded DDR Corp. from a “hold” rating to a “buy” rating in a report on Monday. KeyCorp reiterated a “buy” rating and set a $13.00 target price on shares of DDR Corp. in a report on Friday, September 1st. Finally, Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $13.00 in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. DDR Corp. has an average rating of “Hold” and an average price target of $13.23.
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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