Nationwide Fund Advisors cut its stake in UDR Inc. (NYSE:UDR) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 99,012 shares of the real estate investment trust’s stock after selling 2,367 shares during the period. Nationwide Fund Advisors’ holdings in UDR were worth $3,656,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position in UDR by 198.4% in the second quarter. Global X Management Co. LLC now owns 5,133 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 3,413 shares in the last quarter. Conning Inc. bought a new position in UDR during the second quarter valued at approximately $207,000. Norinchukin Bank The increased its position in UDR by 4.7% in the second quarter. Norinchukin Bank The now owns 5,859 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 262 shares in the last quarter. Cleararc Capital Inc. bought a new position in UDR during the first quarter valued at approximately $251,000. Finally, Magnetar Financial LLC bought a new position in UDR during the first quarter valued at approximately $255,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.
UDR Inc. (NYSE:UDR) traded down 2.16% during trading on Wednesday, hitting $33.95. 636,721 shares of the stock traded hands. The stock has a market cap of $9.07 billion, a P/E ratio of 43.58 and a beta of 0.52. The firm’s 50-day moving average is $35.87 and its 200-day moving average is $36.21. UDR Inc. has a 12 month low of $32.90 and a 12 month high of $38.61.
UDR (NYSE:UDR) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. UDR had a net margin of 21.86% and a return on equity of 7.15%. The firm had revenue of $238.79 million for the quarter, compared to analyst estimates of $235.77 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that UDR Inc. will post $1.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.40%. UDR’s payout ratio is 155.26%.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of UDR from a “hold” rating to a “sell” rating in a research note on Monday, June 13th. Citigroup Inc. raised their price target on shares of UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. BTIG Research assumed coverage on shares of UDR in a research note on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $39.50 price target on shares of UDR in a research note on Monday, July 18th. Finally, Mizuho raised shares of UDR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $41.00 in a research note on Monday, August 1st. Three investment 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 presently has a consensus rating of “Hold” and an average price target of $38.71.
In other UDR news, SVP Harry G. Alcock sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $36.97, for a total value of $277,275.00. Following the transaction, the senior vice president now directly owns 120,145 shares in the company, valued at $4,441,760.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Warren L. Troupe sold 15,000 shares of the stock in a transaction that occurred 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 disclosure for this sale 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.
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