Forward Management LLC boosted its position in shares of DDR Corp. (NYSE:DDR) by 53.7% during the second quarter, Holdings Channel reports. The fund owned 2,377,700 shares of the real estate investment trust’s stock after buying an additional 830,600 shares during the period. DDR Corp. makes up approximately 1.8% of Forward Management LLC’s portfolio, making the stock its 17th largest position. Forward Management LLC’s holdings in DDR Corp. were worth $21,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of DDR Corp. by 4,057.9% in the first quarter. BlackRock Inc. now owns 20,681,069 shares of the real estate investment trust’s stock worth $259,135,000 after buying an additional 20,183,679 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of DDR Corp. by 13,961.6% in the first quarter. Principal Financial Group Inc. now owns 5,743,758 shares of the real estate investment trust’s stock worth $71,970,000 after buying an additional 5,702,911 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of DDR Corp. by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 23,170,463 shares of the real estate investment trust’s stock worth $290,325,000 after buying an additional 4,348,169 shares during the last quarter. Morgan Stanley boosted its position in shares of DDR Corp. by 189.5% in the first quarter. Morgan Stanley now owns 3,763,059 shares of the real estate investment trust’s stock worth $47,151,000 after buying an additional 2,463,134 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of DDR Corp. by 51.6% in the first quarter. Prudential Financial Inc. now owns 4,522,279 shares of the real estate investment trust’s stock worth $56,664,000 after buying an additional 1,539,275 shares during the last quarter. Institutional investors own 81.63% of the company’s stock.

Shares of DDR Corp. (DDR) opened at 10.10 on Thursday. The firm’s market capitalization is $3.71 billion. DDR Corp. has a one year low of $8.11 and a one year high of $19.25. The firm’s 50-day moving average price is $9.52 and its 200-day moving average price is $11.44.

DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. DDR Corp. had a negative net margin of 5.48% and a positive return on equity of 1.24%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. On average, equities analysts forecast that DDR Corp. will post ($0.11) earnings per share for the current year.

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DDR has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $13.00 price target on shares of DDR Corp. in a research note on Friday, May 26th. Citigroup Inc. decreased their price objective on DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. KeyCorp restated an “overweight” rating and issued a $13.00 price objective (down from $16.50) on shares of DDR Corp. in a report on Wednesday, June 28th. Boenning Scattergood upgraded DDR Corp. from an “underperform” rating to a “neutral” rating in a report on Monday, May 15th. They noted that the move was a valuation call. Finally, ValuEngine downgraded DDR Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. DDR Corp. currently has a consensus rating of “Hold” and an average target price of $14.32.

In other news, CEO David R. Lukes acquired 170,000 shares of the stock in a transaction dated Friday, May 12th. The stock was purchased at an average cost of $9.48 per share, with a total value of $1,611,600.00. Following the completion of the purchase, the chief executive officer now owns 372,948 shares in the company, valued at approximately $3,535,547.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Louis Ostrower acquired 53,000 shares of the stock in a transaction dated Friday, May 12th. The shares were purchased at an average cost of $9.46 per share, with a total value of $501,380.00. Following the completion of the purchase, the chief financial officer now owns 108,036 shares of the company’s stock, valued at approximately $1,022,020.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 355,325 shares of company stock valued at $3,232,310. Insiders own 16.20% of the company’s stock.

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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Institutional Ownership by Quarter for DDR Corp. (NYSE:DDR)

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