State of Alaska Department of Revenue decreased its holdings in UDR, Inc. (NYSE:UDR) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,031 shares of the real estate investment trust’s stock after selling 23,640 shares during the period. State of Alaska Department of Revenue’s holdings in UDR were worth $5,983,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Royal London Asset Management Ltd. bought a new position in shares of UDR in the 2nd quarter valued at about $4,219,000. Andra AP fonden bought a new stake in UDR in the second quarter worth about $4,433,000. Verition Fund Management LLC bought a new stake in UDR in the second quarter worth about $842,000. Jane Street Group LLC bought a new stake in UDR in the second quarter worth about $3,263,000. Finally, Signature Financial Management Inc. lifted its stake in UDR by 8.3% in the second quarter. Signature Financial Management Inc. now owns 28,122 shares of the real estate investment trust’s stock worth $1,056,000 after purchasing an additional 2,161 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on UDR. Royal Bank of Canada raised their price objective on shares of UDR from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Citigroup raised their price objective on shares of UDR from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 2nd. Robert W. Baird reissued a “buy” rating and issued a $40.00 price objective on shares of UDR in a research note on Thursday, August 16th. Zacks Investment Research raised shares of UDR from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, July 25th. Finally, ValuEngine raised shares of UDR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. UDR currently has an average rating of “Hold” and a consensus price target of $39.54.
Shares of NYSE:UDR opened at $38.09 on Friday. The company has a market cap of $10.82 billion, a PE ratio of 20.37, a P/E/G ratio of 3.41 and a beta of 0.33. UDR, Inc. has a one year low of $32.88 and a one year high of $41.04. The company has a debt-to-equity ratio of 1.38, a quick ratio of 6.03 and a current ratio of 6.03.
UDR (NYSE:UDR) last issued its earnings results on Monday, July 30th. The real estate investment trust reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The business had revenue of $259.74 million for the quarter, compared to analyst estimates of $253.59 million. UDR had a net margin of 18.47% and a return on equity of 6.87%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that UDR, Inc. will post 1.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.3323 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This is a positive change from UDR’s previous quarterly dividend of $0.32. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.49%. UDR’s dividend payout ratio (DPR) is 68.98%.
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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