UDR, Inc. (NYSE:UDR) Stock Position Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in UDR, Inc. (NYSE:UDR) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,659 shares of the real estate investment trust’s stock after selling 10,413 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of UDR worth $9,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new position in shares of UDR in the fourth quarter worth $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of UDR during the 1st quarter valued at about $26,000. Quest Partners LLC bought a new stake in shares of UDR in the 4th quarter valued at approximately $27,000. Blue Trust Inc. increased its holdings in UDR by 1,018.3% in the second quarter. Blue Trust Inc. now owns 1,040 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 947 shares during the last quarter. Finally, Addison Advisors LLC raised its position in UDR by 53.1% during the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Insider Activity

In related news, CEO Thomas W. Toomey sold 90,000 shares of the firm’s 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 $33,580,776.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.73% of the stock is currently owned by company insiders.

UDR Price Performance

NYSE:UDR opened at $43.30 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. UDR, Inc. has a one year low of $30.95 and a one year high of $43.33. The company has a fifty day moving average price of $41.16 and a 200 day moving average price of $38.76. The stock has a market cap of $14.26 billion, a P/E ratio of 31.38, a PEG ratio of 9.17 and a beta of 0.83.

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

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, July 10th. UDR’s payout ratio is presently 123.19%.

Analyst Upgrades and Downgrades

Several analysts have commented on UDR shares. Morgan Stanley boosted their target price on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Wells Fargo & Company increased their target price on shares of UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Wedbush boosted their price target on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on UDR from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, UBS Group boosted their target price on UDR from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.53.

About UDR

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.