Nisa Investment Advisors LLC trimmed its stake in DDR Corp (NYSE:DDR) by 56.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,930 shares of the real estate investment trust’s stock after selling 53,350 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DDR were worth $548,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stevens Capital Management LP purchased a new position in shares of DDR during the second quarter valued at $359,000. Jane Street Group LLC acquired a new stake in DDR during the second quarter valued at $671,000. Van ECK Associates Corp acquired a new stake in DDR during the second quarter valued at $582,000. Ironwood Investment Management LLC acquired a new stake in DDR during the second quarter valued at $401,000. Finally, SG Americas Securities LLC boosted its position in DDR by 397.4% during the second quarter. SG Americas Securities LLC now owns 115,895 shares of the real estate investment trust’s stock valued at $2,075,000 after purchasing an additional 92,593 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.
NYSE DDR opened at $11.99 on Wednesday. DDR Corp has a twelve month low of $10.95 and a twelve month high of $15.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.66. The stock has a market cap of $2.47 billion, a P/E ratio of 5.08, a price-to-earnings-growth ratio of 1.64 and a beta of 0.49.
A number of analysts recently issued reports on DDR shares. Morgan Stanley reduced their price objective on DDR from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 17th. Deutsche Bank cut DDR from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $14.00 in a research report on Tuesday, August 28th. Citigroup cut DDR from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $15.00 in a research report on Friday, September 14th. SunTrust Banks reaffirmed a “hold” rating and issued a $14.00 price target on shares of DDR in a research report on Thursday, August 16th. Finally, Zacks Investment Research raised DDR from a “strong sell” rating to a “hold” rating in a research report on Monday, September 3rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.19.
DDR is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.
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