The initial public offering of DDR Common Shares was February 2, 1993. The price at that time was $22.00 per share. We began trading on the New York Stock Exchange on February 2, 1993.
With the exception of our Dividend Reinvestment Plan (see below) DDR does not offer the direct purchase or sale of its common or preferred shares. All stock transactions should be handled through a stock brokerage firm of your choice.
Common Shares and Preferred Depositary Shares are listed and predominantly traded on the New York Stock Exchange under the symbols: DDR, DDR_ph, DDR_pj
DDR does not have access to individual shareholders account information. To find out more about your holdings, please contact either your broker or our transfer agent which is Computershare, P.O. Box 43006, Providence, RI 02940-3006, 1-866-282-4937 shrrelations@computershare.com.
Yes we do. If you would like to sign up for direct deposit of your dividends, please call our transfer agent, Computershare at 1-866-282-4937. Please note you must be the record holder of the shares to qualify for direct deposit of dividends.
Yes we do. A transfer agent, Computershare, administers this program for us. Please contact them at 1-866-282-4937 for Dividend Reinvestment Plan information and to apply for the plan.
As of March 31, 2013 there were approximately 317,500,000 common shares outstanding. In addition, at March 31, 2013 there were Operating Partnership Units outstanding, which are convertible into common stock, equal to approximately 400,000 shares.
On-line copies of our quarterly earnings releases are available here. You can also request hard copies of this release and other investor relations materials here.
A Real Estate Investment Trust ("REIT") is essentially a corporation or trust that combines capital of many investors to acquire or provide financing for all forms of real estate. A REIT serves much like a mutual fund for real estate. Its shares are freely traded, often on a major stock exchange.
A corporation or trust that qualifies as a REIT generally does not pay corporate income tax to the Internal Revenues Service ("IRS"). This is a unique feature and one of the most attractive aspects of a REIT. Most states honor this federal treatment and do not require REITs to pay state income tax. This means that nearly all of a REIT's income can be distributed to shareholders, and there is no double taxation of the income to the shareholder. Unlike a partnership, a REIT cannot pass its tax losses onto its investors.
In order for a corporation to qualify as a REIT, it must comply with certain provisions with the Internal Revenue Code. As required by the Tax Code, a REIT must:
be a corporation, business trust or similar association;
be managed by a board of directors or trustees;
have shares that are fully transferable;
have a minimum of 100 shareholders;
have no more than 50 percent of the shares held by five or fewer individuals during the last half of each taxable year; invest at least 75 percent of the total assets in real estate assets;
derive at least 75 percent of gross income from rents from real property, or interest on mortgages on real property; pay dividends of at least 90 percent of REIT taxable income.
Thousands of investors, both U.S. and non-U.S., own shares of REITs. So do pension funds, endowment funds, insurance companies, bank trust departments and mutual funds.
An individual who chooses to invest in a REIT seeks to achieve current income distributions and long-term stock appreciation potential. An investor also has the benefit of liquidity, if needed.
REIT shares typically may be purchased on the open market, with no minimum purchase required.
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