Vident Investment Advisory LLC trimmed its position in shares of UDR, Inc. (NYSE:UDR) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,770 shares of the real estate investment trust’s stock after selling 5,123 shares during the period. Vident Investment Advisory LLC’s holdings in UDR were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp increased its stake in shares of UDR by 1.7% during the 1st quarter. State Street Corp now owns 19,876,886 shares of the real estate investment trust’s stock worth $726,301,000 after purchasing an additional 323,643 shares during the last quarter. Invesco Ltd. grew its holdings in UDR by 41.6% during the first quarter. Invesco Ltd. now owns 13,548,428 shares of the real estate investment trust’s stock worth $495,061,000 after purchasing an additional 3,979,726 shares during the period. JPMorgan Chase & Co. increased its position in UDR by 281.8% during the first quarter. JPMorgan Chase & Co. now owns 3,565,770 shares of the real estate investment trust’s stock worth $130,293,000 after buying an additional 2,631,823 shares during the last quarter. APG Asset Management US Inc. raised its stake in UDR by 6.4% in the first quarter. APG Asset Management US Inc. now owns 3,506,000 shares of the real estate investment trust’s stock valued at $128,109,000 after buying an additional 210,000 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of UDR by 6.4% in the first quarter. Legal & General Group Plc now owns 3,403,569 shares of the real estate investment trust’s stock valued at $124,404,000 after buying an additional 203,938 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
UDR has been the topic of a number of recent analyst reports. Citigroup lowered UDR from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $54.00 to $37.00 in a report on Tuesday, April 7th. Stifel Nicolaus increased their price objective on shares of UDR from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zelman & Associates cut shares of UDR from a “hold” rating to a “sell” rating in a research note on Friday, July 17th. Mizuho upgraded shares of UDR from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a research note on Tuesday, May 19th. Finally, Zacks Investment Research cut shares of UDR from a “hold” rating to a “sell” rating and set a $41.00 price target on the stock. in a report on Friday, May 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. UDR currently has a consensus rating of “Hold” and an average price target of $44.71.
In other UDR news, SVP Harry G. Alcock sold 10,000 shares of UDR stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $42.50, for a total value of $425,000.00. Following the transaction, the senior vice president now owns 77,261 shares in the company, valued at $3,283,592.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas W. Toomey sold 30,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $40.73, for a total value of $1,221,900.00. Following the transaction, the chief executive officer now directly owns 1,501,226 shares of the company’s stock, valued at approximately $61,144,934.98. The disclosure for this sale can be found here. Company insiders own 2.69% of the company’s stock.
Shares of NYSE:UDR opened at $36.20 on Friday. The business’s 50 day simple moving average is $37.11 and its 200 day simple moving average is $40.45. The company has a market capitalization of $10.68 billion, a P/E ratio of 58.39, a P/E/G ratio of 3.47 and a beta of 0.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.08 and a quick ratio of 1.19. UDR, Inc. has a 1 year low of $29.20 and a 1 year high of $51.25.
UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.34). The company had revenue of $307.26 million during the quarter, compared to analyst estimates of $314.90 million. UDR had a net margin of 15.31% and a return on equity of 5.63%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, sell-side analysts anticipate that UDR, Inc. will post 2.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Thursday, July 9th. UDR’s dividend payout ratio (DPR) is presently 69.23%.
UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S.
See Also: Price to Earnings Ratio (PE) Basics
Want to see what other hedge funds are holding UDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UDR, Inc. (NYSE:UDR).
Receive News & Ratings for UDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR and related companies with MarketBeat.com's FREE daily email newsletter.