Bank of New York Mellon Corp Has $263,183,000 Stake in UDR Inc. (UDR)
Bank of New York Mellon Corp raised its stake in UDR Inc. (NYSE:UDR) by 53.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,312,669 shares of the real estate investment trust’s stock after buying an additional 2,538,172 shares during the period. Bank of New York Mellon Corp’s holdings in UDR were worth $263,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in UDR by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,596,913 shares of the real estate investment trust’s stock valued at $1,646,518,000 after buying an additional 1,283,909 shares during the last quarter. Cohen & Steers Inc. boosted its position in UDR by 6.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the real estate investment trust’s stock valued at $1,599,829,000 after buying an additional 2,719,419 shares during the last quarter. FMR LLC boosted its position in UDR by 12.1% in the second quarter. FMR LLC now owns 26,196,706 shares of the real estate investment trust’s stock valued at $967,182,000 after buying an additional 2,817,406 shares during the last quarter. Daiwa Securities Group Inc. boosted 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 valued at $624,371,000 after buying an additional 3,810,916 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in UDR by 6.7% in the second quarter. BlackRock Fund Advisors now owns 10,725,835 shares of the real estate investment trust’s stock valued at $395,998,000 after buying an additional 671,115 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.
UDR Inc. (NYSE:UDR) opened at 34.19 on Wednesday. UDR Inc. has a 52-week low of $32.79 and a 52-week high of $38.61. The firm’s 50-day moving average is $33.96 and its 200-day moving average is $35.42. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 41.39 and a beta of 0.39.
UDR (NYSE:UDR) last issued its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. UDR had a net margin of 22.79% and a return on equity of 7.52%. The firm earned $243.25 million during the quarter, compared to the consensus estimate of $239.85 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts forecast that UDR Inc. will post $1.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, October 6th. UDR’s payout ratio is presently 145.68%.
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A number of brokerages have issued reports on UDR. Citigroup Inc. lifted their target price on shares of UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of UDR from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Evercore ISI raised shares of UDR from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday. JPMorgan Chase & Co. reissued a “buy” rating and set a $40.00 target price on shares of UDR in a research note on Wednesday, November 16th. Finally, BMO Capital Markets lowered shares of UDR from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $38.00 to $35.00 in a research note on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.46.
In related news, Director Clinton D. Mcdonnough acquired 3,000 shares of the stock in a transaction dated Friday, September 9th. The stock was bought at an average price of $34.54 per share, with a total value of $103,620.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at $241,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Warren L. Troupe sold 15,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $36.70, for a total transaction of $550,500.00. Following the sale, the vice president now directly owns 562,903 shares of the company’s stock, valued at approximately $20,658,540.10. The disclosure for this sale 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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