Davis Selected Advisers Trims Stake in DDR Corp. (NYSE:DDR)

Davis Selected Advisers trimmed its holdings in shares of DDR Corp. (NYSE:DDR) by 0.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,613 shares of the real estate investment trust’s stock after selling 23 shares during the period. Davis Selected Advisers owned about 0.05% of DDR Corp. worth $1,693,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. LSV Asset Management boosted its holdings in DDR Corp. by 369.3% during the second quarter. LSV Asset Management now owns 2,758,800 shares of the real estate investment trust’s stock worth $25,022,000 after buying an additional 2,171,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in DDR Corp. by 47.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,840 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 10,250 shares in the last quarter. Matrix Asset Advisors Inc. NY bought a new stake in DDR Corp. during the second quarter worth approximately $218,000. JPMorgan Chase & Co. boosted its holdings in DDR Corp. by 27.2% during the second quarter. JPMorgan Chase & Co. now owns 870,809 shares of the real estate investment trust’s stock worth $7,898,000 after buying an additional 186,189 shares in the last quarter. Finally, Westpac Banking Corp lifted its position in shares of DDR Corp. by 30.2% in the 2nd quarter. Westpac Banking Corp now owns 1,132,633 shares of the real estate investment trust’s stock valued at $10,273,000 after acquiring an additional 262,389 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Several brokerages recently commented on DDR. Boenning Scattergood restated a “hold” rating on shares of DDR Corp. in a research report on Thursday, July 27th. Deutsche Bank AG upgraded shares of DDR Corp. from a “hold” rating to a “buy” rating and increased their target price for the stock from $12.00 to $13.00 in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine downgraded shares of DDR Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of DDR Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.00.

In related news, CEO David R. Lukes acquired 60,000 shares of DDR Corp. stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $8.37 per share, for a total transaction of $502,200.00. Following the completion of the purchase, the chief executive officer now owns 432,948 shares in the company, valued at $3,623,774.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Terrance R. Ahern acquired 59,000 shares of DDR Corp. stock in a transaction dated Thursday, June 22nd. The stock was bought at an average price of $8.47 per share, for a total transaction of $499,730.00. Following the completion of the purchase, the director now owns 323,060 shares of the company’s stock, valued at approximately $2,736,318.20. The disclosure for this purchase can be found here. Company insiders own 16.10% of the company’s stock.

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DDR Corp. (DDR) traded down 1.97% during trading on Friday, hitting $9.94. 545,764 shares of the stock were exchanged. DDR Corp. has a 52 week low of $8.11 and a 52 week high of $17.96. The firm has a 50-day moving average of $9.94 and a 200-day moving average of $10.55. The stock’s market capitalization is $3.65 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 for the quarter, missing the consensus estimate 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 business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $222.90 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. Equities research analysts anticipate that DDR Corp. will post ($0.08) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 25th. This represents a $0.76 annualized dividend and a dividend yield of 7.50%. DDR Corp.’s dividend payout ratio is currently -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).

Institutional Ownership by Quarter for DDR Corp. (NYSE:DDR)

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