Louisiana State Employees Retirement System Cuts Stake in UDR Inc. (UDR)
Louisiana State Employees Retirement System decreased its stake in UDR Inc. (NYSE:UDR) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,500 shares of the real estate investment trust’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in UDR were worth $646,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in UDR by 104.9% in the first quarter. Legal & General Group Plc now owns 1,649,613 shares of the real estate investment trust’s stock valued at $63,547,000 after buying an additional 844,689 shares during the last quarter. DNB Asset Management AS increased its position in shares of UDR by 4.3% in the second quarter. DNB Asset Management AS now owns 19,444 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 800 shares during the period. Daiwa Securities Group Inc. increased its position in shares of 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 valued at $624,371,000 after buying an additional 3,810,916 shares during the period. Geode Capital Management LLC increased its position in shares of 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 valued at $104,049,000 after buying an additional 688,748 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of UDR by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,148,900 shares of the real estate investment trust’s stock valued at $44,267,000 after buying an additional 82,916 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.
UDR Inc. (NYSE:UDR) traded down 1.14% during trading on Friday, hitting $33.78. 2,150,986 shares of the stock were exchanged. UDR Inc. has a 52 week low of $32.90 and a 52 week high of $38.61. The stock has a 50 day moving average of $35.33 and a 200-day moving average of $36.03. The stock has a market cap of $9.02 billion, a P/E ratio of 43.36 and a beta of 0.52.
UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The business earned $238.79 million during the quarter, compared to the consensus estimate of $235.77 million. UDR had a net margin of 21.86% and a return on equity of 7.15%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities analysts expect that UDR Inc. will post $1.78 EPS for the current fiscal 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 paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, October 6th. UDR’s dividend payout ratio is presently 155.26%.
Several research analysts have recently issued reports on the stock. Citigroup Inc. upped their price target on shares of UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of UDR from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Mizuho upgraded shares of UDR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $41.00 in a report on Monday, August 1st. Cantor Fitzgerald reiterated a “buy” rating and set a $39.50 price target on shares of UDR in a report on Monday, July 18th. Finally, BTIG Research assumed coverage on shares of UDR in a report on Thursday, August 25th. They set a “buy” rating and a $42.00 price target for the company. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.71.
In other UDR news, VP Warren L. Troupe sold 15,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $20,658,540.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clinton D. Mcdonnough purchased 2,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was acquired at an average cost of $35.65 per share, with a total value of $71,300.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $142,600. The disclosure for this purchase can be found here. 2.79% of the stock is currently owned by company insiders.
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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