Bank of America Corp DE lessened its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 578,611 shares of the real estate investment trust's stock after selling 457,974 shares during the period. Bank of America Corp DE owned 0.18% of UDR worth $25,118,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in shares of UDR by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 491 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in UDR in the fourth quarter valued at approximately $63,000. Crews Bank & Trust purchased a new stake in UDR in the fourth quarter valued at approximately $76,000. Wingate Wealth Advisors Inc. purchased a new stake in UDR in the fourth quarter valued at approximately $87,000. Finally, Atlas Capital Advisors Inc. acquired a new position in UDR during the fourth quarter worth $114,000. Hedge funds and other institutional investors own 97.84% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on UDR. Royal Bank of Canada upped their target price on UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Wells Fargo & Company reduced their target price on UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Wall Street Zen upgraded UDR from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Scotiabank increased their target price on UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Finally, Evercore ISI raised their price objective on UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $46.44.
Read Our Latest Stock Analysis on UDR
UDR Stock Performance
UDR stock traded down $0.60 during mid-day trading on Friday, hitting $39.50. 2,890,754 shares of the company's stock traded hands, compared to its average volume of 2,143,521. The firm has a 50 day moving average price of $41.98 and a 200 day moving average price of $42.88. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The company has a market cap of $13.09 billion, a PE ratio of 157.99, a price-to-earnings-growth ratio of 8.67 and a beta of 0.84. UDR, Inc. has a one year low of $36.61 and a one year high of $47.55.
UDR (NYSE:UDR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $419.84 million for the quarter, compared to the consensus estimate of $421.23 million. UDR had a return on equity of 2.65% and a net margin of 5.36%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts forecast that UDR, Inc. will post 2.51 EPS for the current year.
UDR Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Thursday, April 10th. This is an increase from UDR's previous quarterly dividend of $0.43. UDR's payout ratio is currently 491.43%.
About UDR
(
Free Report)
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.
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