UDR, Inc. (UDR) Position Trimmed by ING Groep NV
ING Groep NV trimmed its position in shares of UDR, Inc. (NYSE:UDR) by 56.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,473 shares of the real estate investment trust’s stock after selling 16,181 shares during the period. ING Groep NV’s holdings in UDR were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of UDR. Piedmont Investment Advisors LLC acquired a new position in shares of UDR in the second quarter valued at $118,000. Point72 Hong Kong Ltd increased its holdings in shares of UDR by 1,406.2% in the second quarter. Point72 Hong Kong Ltd now owns 3,886 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 3,628 shares during the last quarter. Lourd Capital LLC acquired a new position in shares of UDR in the third quarter valued at $217,000. CAPROCK Group Inc. acquired a new position in shares of UDR in the third quarter valued at $219,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of UDR by 1,900.0% in the second quarter. Qube Research & Technologies Ltd now owns 6,280 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 5,966 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.
In related news, SVP Harry G. Alcock sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $40.45, for a total transaction of $404,500.00. Following the completion of the sale, the senior vice president now owns 126,123 shares of the company’s stock, valued at $5,101,675.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas W. Toomey sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $41.20, for a total transaction of $1,648,000.00. Following the sale, the chief executive officer now directly owns 1,746,826 shares of the company’s stock, valued at approximately $71,969,231.20. The disclosure for this sale can be found here. In the last three months, insiders sold 74,773 shares of company stock valued at $3,062,629. 3.16% of the stock is currently owned by company insiders.
UDR (NYSE:UDR) last announced its earnings results 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. The company had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.90 million. UDR had a net margin of 18.43% and a return on equity of 7.09%. UDR’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 earnings per share. As a group, analysts anticipate that UDR, Inc. will post 1.94 earnings per share for the current year.
The firm also recently announced 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 3.22%. The ex-dividend date was Tuesday, October 9th. This is a boost from UDR’s previous quarterly dividend of $0.32. UDR’s payout ratio is presently 68.98%.
Several equities analysts have commented on UDR shares. Evercore ISI downgraded shares of UDR from an “in-line” rating to an “underperform” rating in a report on Sunday, October 21st. Capital One Financial started coverage on shares of UDR in a report on Monday. They issued an “equal weight” rating and a $43.00 price objective on the stock. Citigroup upped their price objective on shares of UDR from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of UDR from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, July 25th. Finally, ValuEngine upgraded shares of UDR from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Two 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 has an average rating of “Hold” and an average price target of $40.00.
UDR Company Profile
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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