Macquarie Group Ltd. cut its stake in UDR Inc. (NYSE:UDR) by 42.8% during the second quarter, Holdings Channel reports. The institutional investor owned 575,574 shares of the real estate investment trust’s stock after selling 430,839 shares during the period. Macquarie Group Ltd.’s holdings in UDR were worth $21,250,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its stake 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 in the last quarter. DNB Asset Management AS boosted its stake 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. ING Groep NV boosted its stake in UDR by 53.8% in the second quarter. ING Groep NV now owns 9,406 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,291 shares in the last quarter. Utah Retirement Systems boosted its stake in UDR by 1.2% in the second quarter. Utah Retirement Systems now owns 57,643 shares of the real estate investment trust’s stock valued at $2,127,000 after buying an additional 700 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in UDR by 21.2% in the second quarter. First Trust Advisors LP now owns 254,406 shares of the real estate investment trust’s stock valued at $9,393,000 after buying an additional 44,469 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.
Shares of UDR Inc. (NYSE:UDR) traded up 0.39% during midday trading on Friday, reaching $33.52. 601,785 shares of the company’s stock were exchanged. UDR Inc. has a 12-month low of $32.79 and a 12-month high of $38.61. The stock’s 50 day moving average is $33.94 and its 200-day moving average is $35.46. The stock has a market cap of $8.96 billion, a PE ratio of 40.58 and a beta of 0.39.
UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The business earned $243.25 million during the quarter, compared to analyst estimates of $239.85 million. UDR had a net margin of 22.79% and a return on equity of 7.52%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, equities analysts expect that UDR Inc. will post $1.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Tuesday, October 11th were given a dividend of $0.295 per share. 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 3.52%. UDR’s dividend payout ratio is 145.68%.
Several analysts have recently weighed in on UDR shares. BTIG Research started coverage on shares of UDR in a research report on Thursday, August 25th. They set a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets cut shares of UDR from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $38.00 to $35.00 in a research report on Tuesday, October 25th. Mizuho upgraded shares of UDR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $41.00 in a research report on Monday, August 1st. Zacks Investment Research cut shares of UDR from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $40.00 price objective on shares of UDR in a research report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. UDR currently has an average rating of “Hold” and an average price target of $38.46.
In related news, VP Warren L. Troupe sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total transaction of $550,500.00. Following the completion of the transaction, the vice president now owns 562,903 shares in the company, valued at $20,658,540.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Clinton D. Mcdonnough bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average price of $34.54 per share, with a total value of $103,620.00. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $241,780. The disclosure for this purchase can be found here. Corporate insiders own 2.79% of the company’s stock.
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.