Northern Trust Corp Increases Stake in DDR Corp. (DDR)
Northern Trust Corp lifted its position in DDR Corp. (NYSE:DDR) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,000,951 shares of the real estate investment trust’s stock after acquiring an additional 173,544 shares during the period. Northern Trust Corp owned 0.82% of DDR Corp. worth $27,219,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Sigma Planning Corp bought a new position in shares of DDR Corp. in the 2nd quarter worth approximately $100,000. Cutter & CO Brokerage Inc. bought a new position in shares of DDR Corp. in the 2nd quarter worth approximately $104,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of DDR Corp. in the 2nd quarter worth approximately $111,000. Janney Montgomery Scott LLC bought a new position in shares of DDR Corp. in the 2nd quarter worth approximately $121,000. Finally, Greenleaf Trust bought a new position in shares of DDR Corp. in the 2nd quarter worth approximately $123,000. 79.98% of the stock is owned by hedge funds and other institutional investors.
Shares of DDR Corp. (DDR) opened at 8.51 on Friday. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $16.53. The firm’s 50-day moving average price is $9.32 and its 200 day moving average price is $9.79. The stock’s market capitalization is $3.12 billion.
DDR Corp. (NYSE:DDR) last issued its quarterly earnings results 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). The business 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%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. Analysts expect that DDR Corp. will post ($0.12) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date was Monday, September 25th. DDR Corp.’s payout ratio is presently -379.98%.
Several analysts recently weighed in on DDR shares. BidaskClub upgraded DDR Corp. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. KeyCorp restated an “overweight” rating and issued a $13.00 price target (down previously from $16.50) on shares of DDR Corp. in a research note on Wednesday, June 28th. J P Morgan Chase & Co restated a “neutral” rating and issued a $12.00 price target (down previously from $14.50) on shares of DDR Corp. in a research note on Wednesday, June 28th. Deutsche Bank AG upgraded DDR Corp. from a “hold” rating to a “buy” rating and upped their price target for the stock from $12.00 to $13.00 in a research note on Thursday, July 27th. Finally, Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.63.
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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