Adelante Capital Management LLC Increases Position in DDR Corp. (DDR)
Adelante Capital Management LLC increased its stake in DDR Corp. (NYSE:DDR) by 33.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 916,540 shares of the real estate investment trust’s stock after acquiring an additional 232,175 shares during the period. Adelante Capital Management LLC owned about 0.25% of DDR worth $8,396,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in DDR by 2.0% in the second quarter. SG Americas Securities LLC now owns 17,249 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 339 shares in the last quarter. GAM Holding AG grew its position in DDR by 4.4% in the second quarter. GAM Holding AG now owns 26,865 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 1,135 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in DDR by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,478 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 2,384 shares in the last quarter. Franklin Resources Inc. grew its position in DDR by 1.2% in the second quarter. Franklin Resources Inc. now owns 237,633 shares of the real estate investment trust’s stock worth $2,156,000 after acquiring an additional 2,833 shares in the last quarter. Finally, Profund Advisors LLC grew its position in DDR by 25.9% in the second quarter. Profund Advisors LLC now owns 15,228 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 3,132 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.
Shares of DDR Corp. (NYSE DDR) opened at $7.82 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.61. DDR Corp. has a 1 year low of $7.55 and a 1 year high of $15.82. The stock has a market cap of $2,822.44, a PE ratio of 6.38, a price-to-earnings-growth ratio of 1.33 and a beta of 0.76.
DDR (NYSE:DDR) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. DDR had a net margin of 1.11% and a return on equity of 3.48%. The business had revenue of $220.10 million during the quarter, compared to analyst estimates of $218.58 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis. equities research analysts anticipate that DDR Corp. will post 1.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 12th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 11th. This represents a $0.76 annualized dividend and a yield of 9.72%. DDR’s payout ratio is -1,900.00%.
Several research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of DDR in a research report on Thursday, November 30th. They issued a “buy” rating and a $8.25 target price for the company. Zacks Investment Research lowered shares of DDR from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 target price (down from $11.00) on shares of DDR in a research report on Tuesday, November 7th. Boenning Scattergood reiterated a “sell” rating on shares of DDR in a research report on Monday, November 6th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $10.00 target price on shares of DDR in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.77.
DDR Company 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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