Oppenheimer & Co. Inc. lessened its position in UDR, Inc. (NYSE:UDR) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,896 shares of the real estate investment trust’s stock after selling 6,553 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in UDR were worth $1,856,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. raised its position in UDR by 22.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,488 shares of the real estate investment trust’s stock valued at $1,960,000 after buying an additional 8,749 shares during the last quarter. Russell Investments Group Ltd. raised its position in UDR by 71.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,119,569 shares of the real estate investment trust’s stock valued at $85,211,000 after buying an additional 885,971 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in UDR by 14.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 129,086 shares of the real estate investment trust’s stock valued at $5,219,000 after buying an additional 16,779 shares during the last quarter. First Trust Advisors LP raised its position in UDR by 22.2% in the 3rd quarter. First Trust Advisors LP now owns 105,894 shares of the real estate investment trust’s stock valued at $4,281,000 after buying an additional 19,260 shares during the last quarter. Finally, Exane Derivatives raised its position in UDR by 51,707.1% in the 3rd quarter. Exane Derivatives now owns 7,253 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 7,239 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.
NYSE:UDR opened at $39.25 on Friday. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 3.39 and a beta of 0.33. UDR, Inc. has a twelve month low of $32.88 and a twelve month high of $41.13. The company has a current ratio of 5.97, a quick ratio of 6.03 and a debt-to-equity ratio of 1.49.
UDR (NYSE:UDR) last posted its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The firm had revenue of $266.10 million for the quarter, compared to analyst estimates of $258.90 million. UDR had a return on equity of 7.09% and a net margin of 18.43%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. Research analysts forecast that UDR, Inc. will post 1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a dividend of $0.3323 per share. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.39%. UDR’s payout ratio is 68.98%.
In other news, insider Jerry A. Davis sold 10,000 shares of UDR stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $40.44, for a total transaction of $404,400.00. Following the completion of the transaction, the insider now directly owns 224,669 shares in the company, valued at approximately $9,085,614.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynne B. Sagalyn sold 4,773 shares of UDR stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $40.40, for a total value of $192,829.20. Following the transaction, the director now owns 87,176 shares of the company’s stock, valued at $3,521,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 104,773 shares of company stock worth $4,157,729 in the last ninety days. Insiders own 3.16% of the company’s stock.
UDR has been the topic of a number of recent research reports. Societe Generale initiated coverage on UDR in a research report on Tuesday, October 16th. They issued a “sell” rating on the stock. Stifel Nicolaus lifted their target price on UDR from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. Robert W. Baird reissued a “buy” rating and issued a $40.00 target price on shares of UDR in a research report on Thursday, August 16th. Barclays reissued a “hold” rating and issued a $39.00 target price on shares of UDR in a research report on Sunday, October 14th. Finally, Evercore ISI lowered UDR from an “in-line” rating to an “underperform” rating in a research report on Sunday, October 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. UDR has a consensus rating of “Hold” and a consensus price target of $39.57.
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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