Tobam Trims Stake in UDR, Inc. (NYSE:UDR)

Tobam lessened its position in UDR, Inc. (NYSE:UDR) by 31.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,063 shares of the real estate investment trust’s stock after selling 491 shares during the quarter. Tobam’s holdings in UDR were worth $48,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Townsquare Capital LLC grew its position in shares of UDR by 4.8% in the fourth quarter. Townsquare Capital LLC now owns 5,173 shares of the real estate investment trust’s stock valued at $225,000 after purchasing an additional 237 shares during the period. Continuum Advisory LLC grew its position in shares of UDR by 38.0% in the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 351 shares during the period. UMB Bank n.a. grew its position in shares of UDR by 47.8% in the first quarter. UMB Bank n.a. now owns 1,342 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 434 shares during the period. Smartleaf Asset Management LLC grew its position in shares of UDR by 68.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 491 shares during the period. Finally, Cetera Trust Company N.A grew its position in UDR by 10.5% during the first quarter. Cetera Trust Company N.A now owns 5,525 shares of the real estate investment trust’s stock valued at $250,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Trading Down 1.8%

NYSE:UDR opened at $41.19 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. UDR, Inc. has a one year low of $36.61 and a one year high of $47.55. The business’s 50-day simple moving average is $41.32 and its 200 day simple moving average is $42.52. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 164.76, a price-to-earnings-growth ratio of 8.67 and a beta of 0.83.

UDR (NYSE:UDR) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. UDR had a return on equity of 2.65% and a net margin of 5.36%. The business had revenue of $419.84 million for the quarter, compared to analysts’ expectations of $421.23 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, July 10th. UDR’s dividend payout ratio (DPR) is 491.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on UDR shares. Barclays boosted their price target on UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Royal Bank of Canada boosted their price target on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Mizuho lowered their price target on UDR from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Finally, Scotiabank lowered their price target on UDR from $51.00 to $48.00 and set a “sector perform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.38.

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.