Virginia Retirement Systems ET AL Sells 201,400 Shares of DDR Corp. (DDR)

Virginia Retirement Systems ET AL decreased its holdings in DDR Corp. (NYSE:DDR) by 68.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,700 shares of the real estate investment trust’s stock after selling 201,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in DDR were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in DDR by 26.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 29,389,951 shares of the real estate investment trust’s stock worth $266,566,000 after purchasing an additional 6,219,488 shares during the period. BlackRock Inc. boosted its stake in DDR by 7.5% in the 2nd quarter. BlackRock Inc. now owns 22,226,684 shares of the real estate investment trust’s stock worth $201,598,000 after purchasing an additional 1,545,615 shares during the period. Bank of New York Mellon Corp boosted its stake in DDR by 18.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,664,559 shares of the real estate investment trust’s stock worth $87,658,000 after purchasing an additional 1,521,023 shares during the period. State Street Corp boosted its stake in DDR by 0.4% in 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 purchasing an additional 36,430 shares during the period. Finally, Brookfield Asset Management Inc. boosted its stake in DDR by 312.0% in the 2nd quarter. Brookfield Asset Management Inc. now owns 8,181,400 shares of the real estate investment trust’s stock worth $74,205,000 after purchasing an additional 6,195,700 shares during the period. Hedge funds and other institutional investors own 80.04% of the company’s stock.

DDR has been the subject of a number of recent analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $13.00 price objective on shares of DDR in a research note on Friday, September 1st. Mizuho reaffirmed a “hold” rating and issued a $10.00 price objective on shares of DDR in a research note on Monday, October 9th. ValuEngine lowered shares of DDR from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price objective (down previously from $11.00) on shares of DDR in a research note on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of DDR from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.77.

Shares of DDR Corp. (NYSE:DDR) opened at $7.64 on Friday. The stock has a market cap of $2,759.80, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. DDR Corp. has a 52 week low of $7.26 and a 52 week high of $15.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.61.

DDR (NYSE:DDR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $220.10 million during the quarter, compared to analyst estimates of $218.58 million. DDR had a net margin of 1.11% and a return on equity of 3.48%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. equities research analysts expect that DDR Corp. will post 1.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.95%. The ex-dividend date is Monday, December 11th. DDR’s dividend payout ratio (DPR) is currently -1,900.00%.

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About DDR

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).

Institutional Ownership by Quarter for DDR (NYSE:DDR)

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