Teachers Insurance & Annuity Association of America raised its stake in DDR Corp (NYSE:DDR) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 340,952 shares of the real estate investment trust’s stock after purchasing an additional 32,146 shares during the period. Teachers Insurance & Annuity Association of America owned 0.09% of DDR worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in DDR by 6.0% in the fourth quarter. BlackRock Inc. now owns 23,293,640 shares of the real estate investment trust’s stock valued at $208,709,000 after purchasing an additional 1,316,913 shares during the last quarter. Bank of New York Mellon Corp grew its stake in DDR by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 10,055,427 shares of the real estate investment trust’s stock valued at $90,097,000 after purchasing an additional 1,064,901 shares during the last quarter. LSV Asset Management grew its stake in DDR by 18.4% in the fourth quarter. LSV Asset Management now owns 7,377,400 shares of the real estate investment trust’s stock valued at $66,101,000 after purchasing an additional 1,148,978 shares during the last quarter. Principal Financial Group Inc. grew its stake in DDR by 5.2% in the third quarter. Principal Financial Group Inc. now owns 7,130,922 shares of the real estate investment trust’s stock valued at $65,319,000 after purchasing an additional 353,522 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in DDR by 28.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,931,238 shares of the real estate investment trust’s stock valued at $62,105,000 after purchasing an additional 1,553,982 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.
Shares of DDR Corp (DDR) opened at $7.51 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.62. DDR Corp has a twelve month low of $6.77 and a twelve month high of $13.34. The company has a market capitalization of $2,772.31, a PE ratio of 6.36, a P/E/G ratio of 1.53 and a beta of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th 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 10.12%. The ex-dividend date of this dividend is Thursday, March 15th. DDR’s dividend payout ratio (DPR) is -104.11%.
In other news, Director Alexander Otto bought 1,351,558 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $7.81 per share, with a total value of $10,555,667.98. Following the completion of the acquisition, the director now directly owns 48,963,634 shares of the company’s stock, valued at approximately $382,405,981.54. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 16.10% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research upgraded DDR from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Evercore ISI lowered DDR from an “in-line” rating to an “underperform” rating in a research note on Monday, March 5th. Mizuho set a $9.00 price target on DDR and gave the stock a “hold” rating in a research note on Monday, December 18th. Morgan Stanley restated an “equal weight” rating and set a $8.25 price target on shares of DDR in a research note on Thursday, December 14th. Finally, Jefferies Group set a $8.00 price target on DDR and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.65.
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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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