American International Group Inc. Sells 948 Shares of DDR Corp. (DDR)
American International Group Inc. decreased its position in DDR Corp. (NYSE:DDR) by 10.4% during the first quarter, Holdings Channel reports. The institutional investor owned 8,195 shares of the real estate investment trust’s stock after selling 948 shares during the period. American International Group Inc.’s holdings in DDR Corp. were worth $103,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of DDR. Oxford Asset Management acquired a new stake in shares of DDR Corp. during the first quarter worth $163,000. CrestPoint Capital Management LLC acquired a new stake in shares of DDR Corp. during the first quarter worth $165,000. World Asset Management Inc boosted its stake in shares of DDR Corp. by 2.0% in the first quarter. World Asset Management Inc now owns 15,650 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 311 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of DDR Corp. by 22.8% in the first quarter. SG Americas Securities LLC now owns 16,910 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 3,135 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of DDR Corp. by 12.9% in the first quarter. Comerica Bank now owns 29,142 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 3,328 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Shares of DDR Corp. (DDR) traded down 1.39% during trading on Friday, hitting $9.91. 623,686 shares of the stock were exchanged. DDR Corp. has a 12-month low of $8.11 and a 12-month high of $19.22. The stock has a 50-day moving average of $9.57 and a 200 day moving average of $11.43. The stock’s market cap is $3.64 billion.
DDR Corp. (NYSE:DDR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) 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 analyst estimates of $222.90 million. DDR Corp. had a positive return on equity of 1.24% and a negative net margin of 5.48%. DDR Corp.’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities analysts predict that DDR Corp. will post ($0.11) earnings per share for the current fiscal year.
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DDR has been the subject of a number of recent research reports. Citigroup Inc. decreased their price target on shares of DDR Corp. from $16.50 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $12.00 to $13.00 in a research note on Thursday, July 27th. TheStreet cut shares of DDR Corp. from a “c-” rating to a “d+” rating in a research note on Thursday, May 18th. BidaskClub upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine cut shares of DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. DDR Corp. has an average rating of “Hold” and a consensus price target of $14.32.
In related news, CEO David R. Lukes acquired 60,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $8.37 per share, for a total transaction of $502,200.00. Following the acquisition, the chief executive officer now owns 432,948 shares in the company, valued at $3,623,774.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Makinen acquired 11,325 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $8.83 per share, for a total transaction of $99,999.75. Following the acquisition, the chief operating officer now owns 66,361 shares in the company, valued at approximately $585,967.63. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 132,325 shares of company stock worth $1,119,330. Corporate 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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