Conning Inc. Invests $207,000 in UDR Inc. (UDR)
Conning Inc. purchased a new position in shares of UDR Inc. (NYSE:UDR) during the second quarter, Holdings Channel reports. The institutional investor purchased 5,600 shares of the real estate investment trust’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in UDR by 29.1% in the second quarter. Daiwa Securities Group Inc. now owns 16,911,460 shares of the real estate investment trust’s stock worth $624,371,000 after buying an additional 3,810,916 shares during the period. State Street Corp increased its position in UDR by 23.2% in the first quarter. State Street Corp now owns 15,357,401 shares of the real estate investment trust’s stock worth $591,718,000 after buying an additional 2,890,977 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in UDR by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,331,144 shares of the real estate investment trust’s stock worth $436,589,000 after buying an additional 280,509 shares during the period. BlackRock Group LTD increased its position in UDR by 33.0% in the first quarter. BlackRock Group LTD now owns 3,759,393 shares of the real estate investment trust’s stock worth $144,850,000 after buying an additional 933,789 shares during the period. Finally, Geode Capital Management LLC increased its position in UDR by 34.2% in the first quarter. Geode Capital Management LLC now owns 2,704,883 shares of the real estate investment trust’s stock worth $104,049,000 after buying an additional 688,748 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.
Shares of UDR Inc. (NYSE:UDR) traded down 0.86% during mid-day trading on Friday, reaching $33.44. The company had a trading volume of 1,322,447 shares. The stock has a 50 day moving average price of $35.64 and a 200 day moving average price of $36.15. The firm has a market capitalization of $8.93 billion, a PE ratio of 42.93 and a beta of 0.52. UDR Inc. has a 12-month low of $32.90 and a 12-month high of $38.61.
UDR (NYSE:UDR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. UDR had a return on equity of 7.15% and a net margin of 21.86%. The firm had revenue of $238.79 million for the quarter, compared to analysts’ expectations of $235.77 million. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that UDR Inc. will post $1.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.18 annualized dividend and a dividend yield of 3.53%. UDR’s payout ratio is currently 155.26%.
A number of research analysts recently commented on UDR shares. Zacks Investment Research raised UDR from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Cantor Fitzgerald reissued a “buy” rating and set a $39.50 target price on shares of UDR in a research note on Monday, July 18th. BTIG Research started coverage on UDR in a research note on Thursday, August 25th. They set a “buy” rating and a $42.00 target price for the company. Mizuho raised UDR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $41.00 in a research note on Monday, August 1st. Finally, Citigroup Inc. boosted their target price on UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.71.
In other UDR news, Director Clinton D. Mcdonnough purchased 2,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were purchased at an average price of $35.65 per share, with a total value of $71,300.00. Following the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $142,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Warren L. Troupe sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total value of $550,500.00. Following the completion of the sale, the vice president now directly owns 562,903 shares in the company, valued at approximately $20,658,540.10. The disclosure for this sale can be found here. 2.79% of the stock is owned by company insiders.
UDR Company Profile
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.
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