Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Acquires New Position in UDR Inc. (UDR)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of UDR Inc. (NYSE:UDR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,300 shares of the real estate investment trust’s stock, valued at approximately $2,242,000.
A number of other institutional investors also recently modified their holdings of the stock. Aperio Group LLC increased its position in shares of UDR by 12.2% in the third quarter. Aperio Group LLC now owns 70,012 shares of the real estate investment trust’s stock valued at $2,520,000 after buying an additional 7,594 shares during the last quarter. Arizona State Retirement System increased its position in shares of UDR by 1.6% in the third quarter. Arizona State Retirement System now owns 146,000 shares of the real estate investment trust’s stock valued at $5,255,000 after buying an additional 2,300 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in shares of UDR by 8.9% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 502,531 shares of the real estate investment trust’s stock valued at $18,086,000 after buying an additional 41,188 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of UDR by 224.4% in the third quarter. Advisors Asset Management Inc. now owns 8,438 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 5,837 shares during the last quarter. Finally, Kissinger Financial Services LLC bought a new position in shares of UDR during the third quarter valued at approximately $877,000. 99.55% of the stock is owned by institutional investors and hedge funds.
Shares of UDR Inc. (NYSE:UDR) traded up 1.70% on Monday, reaching $34.09. 1,745,090 shares of the company traded hands. The stock’s 50 day moving average price is $33.96 and its 200-day moving average price is $35.42. UDR Inc. has a one year low of $32.79 and a one year high of $38.61.
UDR (NYSE:UDR) last announced its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. UDR had a net margin of 22.79% and a return on equity of 7.52%. The business earned $243.25 million during the quarter, compared to analyst estimates of $239.85 million. During the same period in the previous year, the business posted $0.42 earnings per share. UDR’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts predict that UDR Inc. will post $1.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th were given a dividend of $0.295 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.18 annualized dividend and a yield of 3.52%. UDR’s payout ratio is presently 145.68%.
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Several equities analysts recently commented on the stock. Evercore ISI raised shares of UDR from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $40.00 price objective on shares of UDR in a research note on Wednesday, November 16th. BMO Capital Markets downgraded shares of UDR from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $38.00 to $35.00 in a research note on Tuesday, October 25th. BTIG Research assumed coverage on shares of UDR in a research report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Zacks Investment Research upgraded shares of UDR from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.46.
In other news, VP Warren L. Troupe sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total value of $550,500.00. Following the completion of the sale, the vice president now directly owns 562,903 shares in the company, valued at approximately $20,658,540.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Clinton D. Mcdonnough acquired 3,000 shares of the stock in a transaction dated Friday, September 9th. The stock was acquired at an average price of $34.54 per share, with a total value of $103,620.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at approximately $241,780. The disclosure for this purchase can be found here. Company 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.
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