DDR Corp. (DDR) Stake Lessened by Cbre Clarion Securities LLC
Cbre Clarion Securities LLC lessened its stake in shares of DDR Corp. (NYSE:DDR) by 92.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,226,100 shares of the real estate investment trust’s stock after selling 15,200,058 shares during the quarter. Cbre Clarion Securities LLC owned about 0.33% of DDR Corp. worth $11,121,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in DDR Corp. during the 1st quarter valued at approximately $326,000. Swiss National Bank boosted 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 period. Janney Montgomery Scott LLC bought a new stake in DDR Corp. during the 2nd quarter valued at approximately $121,000. Principal Financial Group Inc. boosted its stake in 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 valued at $61,471,000 after purchasing an additional 1,033,642 shares during the period. Finally, Goldman Sachs Group Inc. boosted 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 period. Institutional investors own 80.24% of the company’s stock.
Several brokerages recently weighed in on DDR. Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $12.00 to $13.00 in a research note on Thursday, July 27th. BidaskClub upgraded DDR Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. KeyCorp restated a “buy” rating and set a $13.00 target price on shares of DDR Corp. in a research note on Friday, September 1st. J P Morgan Chase & Co restated a “neutral” rating and set a $12.00 target price (down previously from $14.50) on shares of DDR Corp. in a research note on Wednesday, June 28th. Finally, ValuEngine downgraded DDR Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.00.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/09/24/ddr-corp-ddr-stake-lessened-by-cbre-clarion-securities-llc.html.
DDR Corp. (NYSE:DDR) traded up 0.87% during trading on Friday, reaching $9.29. The company’s stock had a trading volume of 3,334,489 shares. DDR Corp. has a 52-week low of $8.11 and a 52-week high of $17.96. The firm’s 50-day moving average is $9.89 and its 200-day moving average is $10.40. The stock’s market cap is $3.41 billion.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $222.90 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 7.5% on a year-over-year basis. Equities research analysts forecast that DDR Corp. will post ($0.12) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.18%. The ex-dividend date is Monday, September 25th. DDR Corp.’s dividend payout ratio is presently -379.98%.
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).
Receive News & Ratings for DDR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DDR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.