Eos Focused Equity Management L.P. purchased a new stake in DDR Corp. (NYSE:DDR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 219,822 shares of the real estate investment trust’s stock, valued at approximately $2,014,000. DDR Corp. comprises about 3.0% of Eos Focused Equity Management L.P.’s holdings, making the stock its 18th biggest holding. Eos Focused Equity Management L.P. owned approximately 0.06% of DDR Corp. as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DDR. Janney Montgomery Scott LLC purchased a new stake in shares of DDR Corp. during the 2nd quarter valued at $121,000. Principal Financial Group Inc. grew its stake in shares of DDR Corp. by 18.0% during the 2nd quarter. Principal Financial Group Inc. now owns 6,777,400 shares of the real estate investment trust’s stock worth $61,471,000 after acquiring an additional 1,033,642 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of DDR Corp. during the 2nd quarter worth $149,000. State Street Corp grew its stake in shares of DDR Corp. by 0.4% during the 2nd quarter. State Street Corp now owns 9,623,554 shares of the real estate investment trust’s stock worth $87,284,000 after acquiring an additional 36,430 shares during the period. Finally, BlackRock Inc. grew its stake in shares of DDR Corp. by 7.5% during the 2nd quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock worth $201,598,000 after acquiring an additional 1,545,615 shares during the period. 81.29% of the stock is owned by institutional investors and hedge funds.
Shares of DDR Corp. (NYSE DDR) traded down $0.03 during midday trading on Friday, reaching $8.02. The company’s stock had a trading volume of 3,911,600 shares, compared to its average volume of 5,063,584. DDR Corp. has a fifty-two week low of $7.55 and a fifty-two week high of $15.82. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51. The company has a market cap of $2,955.09, a P/E ratio of 6.68, a P/E/G ratio of 1.41 and a beta of 0.76.
DDR Corp. (NYSE:DDR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. DDR Corp. had a return on equity of 3.48% and a net margin of 1.11%. The business had revenue of $220.10 million during the quarter, compared to the consensus estimate of $218.58 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. equities research analysts predict that DDR Corp. will post 1.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.76 annualized dividend and a dividend yield of 9.48%. DDR Corp.’s payout ratio is currently -1,900.00%.
DDR has been the subject of several research reports. Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $12.00 to $13.00 in a research note on Thursday, July 27th. Zacks Investment Research upgraded DDR Corp. from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, October 4th. KeyCorp reiterated a “buy” rating and set a $13.00 price target on shares of DDR Corp. in a research note on Friday, September 1st. ValuEngine upgraded DDR Corp. from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of DDR Corp. in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.04.
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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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