Raymond James & Associates Has $1.42 Million Position in UDR, Inc. (NYSE:UDR)

Raymond James & Associates reduced its position in shares of UDR, Inc. (NYSE:UDR) by 68.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,424 shares of the real estate investment trust’s stock after selling 74,133 shares during the period. Raymond James & Associates’ holdings in UDR were worth $1,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of UDR by 0.5% during the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after buying an additional 233,475 shares during the period. Presima Securities ULC acquired a new position in UDR during the fourth quarter valued at approximately $18,256,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in UDR by 370.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 222,940 shares of the real estate investment trust’s stock valued at $8,340,000 after purchasing an additional 175,566 shares during the last quarter. Simplicity Wealth LLC acquired a new position in UDR during the second quarter valued at approximately $2,135,000. Finally, Hsbc Holdings PLC boosted its position in UDR by 6.2% during the fourth quarter. Hsbc Holdings PLC now owns 761,659 shares of the real estate investment trust’s stock valued at $29,205,000 after purchasing an additional 44,677 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Performance

NYSE:UDR opened at $44.59 on Thursday. The stock has a market cap of $14.71 billion, a P/E ratio of 32.31, a PEG ratio of 9.76 and a beta of 0.85. The stock has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $39.26. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $45.10.

UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). The company had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. UDR’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. Research analysts anticipate that UDR, Inc. will post 2.46 earnings per share for the current year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were issued a $0.425 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.70 annualized dividend and a yield of 3.81%. UDR’s dividend payout ratio is presently 123.19%.

Insider Buying and Selling at UDR

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction on Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the transaction, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UDR shares. Evercore ISI increased their price target on UDR from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group started coverage on UDR in a research report on Wednesday. They set a “sell” rating and a $42.00 price target for the company. Wells Fargo & Company increased their price target on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Truist Financial raised their price objective on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Scotiabank lifted their target price on UDR from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, UDR has a consensus rating of “Hold” and a consensus target price of $42.82.

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 communities in targeted U.S.