First Trust Advisors LP lifted its position in shares of UDR, Inc. (NYSE:UDR) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,894 shares of the real estate investment trust’s stock after buying an additional 19,260 shares during the period. First Trust Advisors LP’s holdings in UDR were worth $4,281,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of UDR. Standard Life Aberdeen plc boosted its position in shares of UDR by 1,910.7% during the second quarter. Standard Life Aberdeen plc now owns 1,050,547 shares of the real estate investment trust’s stock worth $39,437,000 after buying an additional 998,300 shares during the period. Millennium Management LLC boosted its position in shares of UDR by 771.9% during the second quarter. Millennium Management LLC now owns 768,480 shares of the real estate investment trust’s stock worth $28,849,000 after buying an additional 680,346 shares during the period. FMR LLC boosted its position in shares of UDR by 3.4% during the second quarter. FMR LLC now owns 16,025,171 shares of the real estate investment trust’s stock worth $601,586,000 after buying an additional 528,079 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of UDR during the second quarter worth about $15,298,000. Finally, Renaissance Technologies LLC boosted its position in shares of UDR by 4.9% during the second quarter. Renaissance Technologies LLC now owns 8,358,300 shares of the real estate investment trust’s stock worth $313,771,000 after buying an additional 390,700 shares during the period. 96.13% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on UDR from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. Zacks Investment Research cut UDR from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup increased their price target on UDR from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. ValuEngine raised UDR from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Robert W. Baird reissued a “buy” rating and set a $40.00 price target on shares of UDR in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.00.
UDR (NYSE:UDR) last released its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. UDR had a return on equity of 7.09% and a net margin of 18.43%. The company had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.90 million. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that UDR, Inc. will post 1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th were given a $0.3323 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from UDR’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, October 9th. UDR’s dividend payout ratio (DPR) is presently 68.98%.
In other news, VP Warren L. Troupe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $41.29, for a total value of $412,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas W. Toomey sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $41.20, for a total value of $1,648,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,746,826 shares of the company’s stock, valued at $71,969,231.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,773 shares of company stock valued at $3,062,629. Insiders own 3.16% of the company’s stock.
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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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