Insider Buying: Alexander Otto Acquires 240,319 Shares of DDR Corp Stock (DDR)
DDR Corp (NYSE:DDR) major shareholder Alexander Otto bought 240,319 shares of DDR Corp stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $15.54 per share, with a total value of $3,734,557.26. Following the completion of the purchase, the insider now directly owns 40,174,485 shares in the company, valued at approximately $624,311,497. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
DDR has been the subject of a number of recent research reports. Analysts at Capital Ideas Research initiated coverage on shares of DDR Corp in a research note to investors on Wednesday, December 4th. They set an “outperform” rating on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of DDR Corp in a research note to investors on Wednesday, December 4th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, analysts at MLV Capital initiated coverage on shares of DDR Corp in a research note to investors on Tuesday, November 19th. They set a “buy” rating and a $20.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. DDR Corp currently has an average rating of “Buy” and an average price target of $18.78.
Shares of DDR Corp (NYSE:DDR) traded up 0.64% on Tuesday, hitting $15.67. 3,886,619 shares of the company’s stock traded hands. DDR Corp has a one year low of $14.89 and a one year high of $19.54. The stock has a 50-day moving average of $15.53 and a 200-day moving average of $16.21. The company’s market cap is $4.986 billion.
DDR Corp (NYSE:DDR) last released its earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.28. The company had revenue of $219.37 million for the quarter, compared to the consensus estimate of $211.30 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that DDR Corp will post $1.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 8th. Stockholders of record on Thursday, March 13th will be paid a dividend of 0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Tuesday, March 11th. This is a boost from DDR Corp’s previous quarterly dividend of $0.14.
DDR Corp.(NYSE:DDR) is a self-administered and self-managed real estate investment trust.
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