Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in UDR, Inc. (NYSE:UDR) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,567 shares of the real estate investment trust’s stock after purchasing an additional 2,778 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in UDR were worth $1,627,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in UDR by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 46,343,409 shares of the real estate investment trust’s stock worth $2,080,355,000 after purchasing an additional 1,285,702 shares during the last quarter. BlackRock Inc. raised its position in shares of UDR by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,184,961 shares of the real estate investment trust’s stock valued at $1,444,783,000 after purchasing an additional 83,043 shares in the last quarter. Northern Trust Corp raised its position in shares of UDR by 5.0% in the 2nd quarter. Northern Trust Corp now owns 4,327,408 shares of the real estate investment trust’s stock valued at $194,257,000 after purchasing an additional 206,649 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of UDR by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,998,927 shares of the real estate investment trust’s stock valued at $179,512,000 after purchasing an additional 213,038 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of UDR by 12.9% in the 2nd quarter. Invesco Ltd. now owns 3,805,778 shares of the real estate investment trust’s stock valued at $170,841,000 after purchasing an additional 433,388 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.
A number of brokerages have recently weighed in on UDR. Wells Fargo & Co boosted their price target on UDR from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Goldman Sachs Group began coverage on UDR in a report on Friday. They issued a “neutral” rating and a $53.00 price target for the company. Morgan Stanley boosted their price target on UDR from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Citigroup boosted their price target on UDR from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, ValuEngine downgraded UDR from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.25.
UDR (NYSE:UDR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.43). The business had revenue of $295.40 million during the quarter, compared to the consensus estimate of $285.45 million. UDR had a return on equity of 5.51% and a net margin of 15.20%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. As a group, analysts forecast that UDR, Inc. will post 2.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, October 9th. UDR’s dividend payout ratio is 69.90%.
In other news, CFO Joseph D. Fisher sold 3,100 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $48.23, for a total transaction of $149,513.00. Following the completion of the sale, the chief financial officer now directly owns 25,294 shares of the company’s stock, valued at $1,219,929.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jerry A. Davis sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $48.38, for a total value of $483,800.00. Following the completion of the sale, the chief operating officer now directly owns 183,065 shares of the company’s stock, valued at $8,856,684.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,100 shares of company stock valued at $4,034,713. 2.85% of the stock is currently owned by company insiders.
UDR Company Profile
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.
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