Developers Diversified Realty Corporation
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Developers Diversified Realty is a REIT billing itself as the nation's leading owner, developer and manager of "market dominant" shopping centers. They also acquire underperforming shopping centers which they believe they can upgrade using their expertise in the field. Their NYSE stock symbol is DDR.
Their portfolio of properties has displayed low volatility, and so has not gone down with the housing market. They now have 742 operating properties, with $20.6 billion of assets under management. They are in 45 U.S. states, plus Puerto Rico, Brazil, Russia and Canada, with a total of 175 million square feet. They are a fully integrated, self-administered and self-managed REIT.
Their largest tenants are: Wal-Mart/Sam's Club, Target, Lowe's, Home Depot, Kohl's, T.J.Maxx/Marshall's, Kmart/Sears, Publix and PetSmart.
Their Initial Public Offering was February 2, 1993. They do have a Dividend ReInvestment Plan (DRIP). They have issued preferred stock shares as well of course as having common shares outstanding. The NYSE stock ticker symbol for their common shares is DDR.
By bringing high quality shopping centers to the marketplace over most of the United States and expanding into other countries, Developers Diversified really is a diversified REIT well-positioned to benefit from the continuing need of shoppers to shop.
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