ING Groep NV boosted its stake in shares of UDR Inc. (NYSE:UDR) by 53.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,406 shares of the real estate investment trust’s stock after buying an additional 3,291 shares during the period. ING Groep NV’s holdings in UDR were worth $347,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised 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 in the last quarter. State Street Corp raised its position in UDR by 23.2% in the first quarter. State Street Corp now owns 15,357,401 shares of the real estate investment trust’s stock valued at $591,718,000 after buying an additional 2,890,977 shares in the last quarter. Geode Capital Management LLC raised its position in UDR by 34.2% in the first quarter. Geode Capital Management LLC now owns 2,704,883 shares of the real estate investment trust’s stock valued at $104,049,000 after buying an additional 688,748 shares in the last quarter. Renaissance Technologies LLC raised its position in UDR by 60.1% in the first quarter. Renaissance Technologies LLC now owns 1,890,898 shares of the real estate investment trust’s stock valued at $72,856,000 after buying an additional 709,598 shares in the last quarter. Finally, Legal & General Group Plc raised its position in UDR by 104.9% in the first quarter. Legal & General Group Plc now owns 1,649,613 shares of the real estate investment trust’s stock valued at $63,547,000 after buying an additional 844,689 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.
UDR Inc. (NYSE:UDR) traded up 0.490% during midday trading on Wednesday, reaching $33.825. The company’s stock had a trading volume of 830,849 shares. The firm has a market capitalization of $9.03 billion, a PE ratio of 43.421 and a beta of 0.52. UDR Inc. has a 52 week low of $32.90 and a 52 week high of $38.61. The stock has a 50 day moving average of $35.50 and a 200 day moving average of $36.09.
UDR (NYSE:UDR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. UDR had a return on equity of 7.15% and a net margin of 21.86%. The company 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 posted $0.41 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that UDR Inc. will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, October 6th. UDR’s payout ratio is currently 155.26%.
UDR has been the topic of several research analyst reports. Zacks Investment Research raised UDR from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $39.50 price objective on shares of UDR in a research note on Monday, July 18th. BTIG Research initiated coverage on UDR in a research note on Thursday, August 25th. They issued a “buy” rating and a $42.00 price objective on the stock. Mizuho raised UDR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $41.00 in a research note on Monday, August 1st. Finally, Citigroup Inc. lifted their price objective on UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.71.
In other news, Director Clinton D. Mcdonnough bought 3,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $34.54 per share, with a total value of $103,620.00. Following the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $241,780. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Clinton D. Mcdonnough bought 2,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was purchased at an average cost of $35.65 per share, for a total transaction of $71,300.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $142,600. The disclosure for this purchase can be found here. 2.79% of the stock is 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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