State of Wisconsin Investment Board continued to hold its position in shares of DDR Corp. (NYSE:DDR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,208 shares of the real estate investment trust’s stock at the close of the 2nd quarter. State of Wisconsin Investment Board’s holdings in DDR Corp. were worth $555,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in DDR Corp. during the 1st quarter valued at about $326,000. Swiss National Bank grew its stake in DDR Corp. by 0.6% during the 1st quarter. Swiss National Bank now owns 514,300 shares of the real estate investment trust’s stock valued at $6,444,000 after purchasing an additional 3,100 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in DDR Corp. during the 2nd quarter valued at about $121,000. Clinton Group Inc. grew its stake in DDR Corp. by 1,237.5% during the 1st quarter. Clinton Group Inc. now owns 611,104 shares of the real estate investment trust’s stock valued at $7,657,000 after purchasing an additional 565,413 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in DDR Corp. by 23.1% during the 1st 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 purchasing an additional 4,348,169 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
In related news, CEO David R. Lukes purchased 60,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of $8.37 per share, with a total value of $502,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 432,948 shares in the company, valued at approximately $3,623,774.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Terrance R. Ahern purchased 59,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average cost of $8.47 per share, for a total transaction of $499,730.00. Following the acquisition, the director now owns 323,060 shares of the company’s stock, valued at $2,736,318.20. The disclosure for this purchase can be found here. Company insiders own 16.10% of the company’s stock.
Several research firms have weighed in on DDR. Boenning Scattergood reiterated a “hold” rating on shares of DDR Corp. in a research note on Thursday, July 27th. ValuEngine downgraded DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded DDR Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of DDR Corp. in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $12.00 price target (down previously from $14.50) on shares of DDR Corp. in a research note on Wednesday, June 28th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. DDR Corp. currently has an average rating of “Hold” and an average price target of $14.00.
DDR Corp. (DDR) opened at 9.94 on Tuesday. The firm’s market cap is $3.65 billion. The company has a 50-day moving average price of $9.93 and a 200-day moving average price of $10.60. DDR Corp. has a 12-month low of $8.11 and a 12-month high of $18.16.
DDR Corp. (NYSE:DDR) last released 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 positive return on equity of 1.24% and a negative net margin of 5.48%. The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $222.90 million. During the same period in the prior year, the business earned $0.33 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities analysts predict that DDR Corp. will post ($0.07) earnings per share for the current year.
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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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