Retirement Systems of Alabama Sells 58,222 Shares of UDR Inc. (UDR)
Retirement Systems of Alabama reduced its position in UDR Inc. (NYSE:UDR) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,490 shares of the real estate investment trust’s stock after selling 58,222 shares during the period. Retirement Systems of Alabama owned 0.15% of UDR worth $15,118,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Conning Inc. acquired a new position in UDR during the second quarter worth about $207,000. Strs Ohio increased its position in UDR by 0.3% in the second quarter. Strs Ohio now owns 441,031 shares of the real estate investment trust’s stock worth $16,282,000 after buying an additional 1,504 shares during the last quarter. Bank of Montreal Can acquired a new position in UDR during the second quarter worth about $9,576,000. Shell Asset Management Co. increased its position in UDR by 8.7% in the second quarter. Shell Asset Management Co. now owns 72,285 shares of the real estate investment trust’s stock worth $2,669,000 after buying an additional 5,784 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased 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 worth $624,371,000 after buying an additional 3,810,916 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.
UDR Inc. (NYSE:UDR) traded down 1.21% on Friday, hitting $35.99. 1,980,169 shares of the stock traded hands. The stock has a market capitalization of $9.61 billion, a P/E ratio of 46.20 and a beta of 0.69. UDR Inc. has a 12-month low of $32.90 and a 12-month high of $38.61. The company’s 50 day moving average price is $35.98 and its 200-day moving average price is $36.27.
UDR (NYSE:UDR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. UDR had a net margin of 21.86% and a return on equity of 7.15%. The company had revenue of $238.79 million for the quarter, compared to the consensus estimate of $235.77 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that UDR Inc. will post $1.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be paid a $0.295 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.18 annualized dividend and a dividend yield of 3.28%. UDR’s dividend payout ratio is presently 155.26%.
Several analysts recently weighed in on UDR shares. BTIG Research started coverage on shares of UDR in a research report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price objective on the stock. Zacks Investment Research upgraded shares of UDR from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Citigroup Inc. lifted their price objective on shares of UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Mizuho upgraded shares of 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 report on Monday, August 1st. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $39.50 price objective on shares of UDR in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.71.
In related news, Director Clinton D. Mcdonnough purchased 2,000 shares of UDR stock in a transaction that occurred on Wednesday, August 24th. The shares were acquired at an average price of $35.65 per share, for a total transaction of $71,300.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $142,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Harry G. Alcock sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $36.97, for a total transaction of $277,275.00. Following the transaction, the senior vice president now owns 120,145 shares in the company, valued at approximately $4,441,760.65. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
UDR Company Profile
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.
Receive News & Stock Ratings for UDR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR Inc. and related stocks with our FREE daily email newsletter.