UDR Inc. (UDR) Shares Bought by State Treasurer State of Michigan
State Treasurer State of Michigan raised its stake in UDR Inc. (NYSE:UDR) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 93,200 shares of the real estate investment trust’s stock after buying an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in UDR were worth $3,354,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Euclid Advisors LLC acquired a new position in UDR during the first quarter valued at $2,974,000. DNB Asset Management AS boosted its position in 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 in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in UDR by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 69,148 shares of the real estate investment trust’s stock valued at $2,553,000 after buying an additional 4,108 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in UDR by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 229,284 shares of the real estate investment trust’s stock valued at $8,465,000 after buying an additional 2,803 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in UDR by 81.4% in the second quarter. Gateway Investment Advisers LLC now owns 538,415 shares of the real estate investment trust’s stock valued at $19,878,000 after buying an additional 241,559 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.
UDR Inc. (NYSE:UDR) traded down 0.44% during trading on Wednesday, reaching $34.04. The company had a trading volume of 2,369,904 shares. The firm’s 50-day moving average price is $33.98 and its 200 day moving average price is $35.40. UDR Inc. has a one year low of $32.79 and a one year high of $38.61. The firm has a market capitalization of $9.10 billion, a P/E ratio of 41.21 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 consensus estimate of $0.45 by $0.01. UDR had a return on equity of 7.52% and a net margin of 22.79%. The business had revenue of $243.25 million for the quarter, compared to the consensus estimate of $239.85 million. During the same period last year, the business posted $0.42 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Equities analysts forecast that UDR Inc. will post $1.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were paid a $0.295 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.47%. UDR’s dividend payout ratio (DPR) is currently 145.68%.
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UDR has been the topic of several research analyst reports. Citigroup Inc. boosted their price objective on UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded UDR from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. BTIG Research initiated coverage on UDR in a research note on Thursday, August 25th. They issued a “buy” rating and a $42.00 target price on the stock. BMO Capital Markets lowered UDR from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $38.00 to $35.00 in a research note on Tuesday, October 25th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $40.00 target price on shares of UDR in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. UDR has an average rating of “Hold” and an average target price of $38.46.
In related news, VP Warren L. Troupe sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $36.70, for a total value of $550,500.00. Following the transaction, the vice president now directly owns 562,903 shares of the company’s stock, valued at approximately $20,658,540.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Clinton D. Mcdonnough bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $34.54 per share, for a total transaction of $103,620.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at approximately $241,780. The disclosure for this purchase can be found here. 2.79% of the stock is owned by 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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