Lasalle Investment Management Securities LLC Boosts Holdings in UDR, Inc. (NYSE:UDR)

Lasalle Investment Management Securities LLC grew its position in shares of UDR, Inc. (NYSE:UDR) by 64.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,447,425 shares of the real estate investment trust’s stock after purchasing an additional 567,878 shares during the period. UDR makes up about 2.2% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 18th largest position. Lasalle Investment Management Securities LLC’s holdings in UDR were worth $54,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UDR. Principal Securities Inc. purchased a new stake in shares of UDR during the fourth quarter valued at approximately $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of UDR during the first quarter valued at approximately $26,000. Quest Partners LLC purchased a new stake in shares of UDR during the fourth quarter valued at approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of UDR by 87.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 669 shares in the last quarter. Finally, Addison Advisors LLC grew its position in shares of UDR by 53.1% during the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

Shares of NYSE UDR traded down $0.14 during midday trading on Friday, reaching $40.59. 4,218,957 shares of the company traded hands, compared to its average volume of 2,658,923. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $42.42. The stock has a 50-day moving average price of $40.39 and a 200 day moving average price of $38.23. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 6.61. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 8.99 and a beta of 0.83.

UDR (NYSE:UDR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a net margin of 8.34% and a return on equity of 3.70%. The company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that UDR, Inc. will post 2.45 earnings per share for the current fiscal year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is presently 123.19%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Royal Bank of Canada decreased their price target on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday. Truist Financial raised their price target on shares of UDR from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Wedbush raised their price target on shares of UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Mizuho raised their price target on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, UDR currently has an average rating of “Hold” and an average target price of $41.33.

Insiders Place Their Bets

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the sale, the chief executive officer now owns 849,716 shares in the company, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares in the company, valued at approximately $326,964.22. The disclosure for this sale can be found here. 3.73% of the stock is 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 communities in targeted U.S.