Bank of New York Mellon Corp Has $263,183,000 Stake in UDR Inc. (UDR)
Bank of New York Mellon Corp increased its stake in UDR Inc. (NYSE:UDR) by 53.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,312,669 shares of the real estate investment trust’s stock after buying an additional 2,538,172 shares during the period. Bank of New York Mellon Corp owned about 2.74% of UDR worth $263,183,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of UDR by 49.5% in the third quarter. Victory Capital Management Inc. now owns 5,099 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 1,689 shares during the period. State Treasurer State of Michigan increased its stake in UDR by 0.4% in the third quarter. State Treasurer State of Michigan now owns 93,200 shares of the real estate investment trust’s stock valued at $3,354,000 after buying an additional 400 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in UDR during the third quarter valued at $2,242,000. Aperio Group LLC increased its stake in 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. Finally, Arizona State Retirement System increased its stake in 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 in the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.
UDR Inc. (NYSE:UDR) opened at 34.19 on Wednesday. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 41.39 and a beta of 0.39. UDR Inc. has a 12 month low of $32.79 and a 12 month high of $38.61. The company has a 50 day moving average price of $33.96 and a 200 day moving average price of $35.42.
UDR (NYSE:UDR) last announced its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. UDR had a return on equity of 7.52% and a net margin of 22.79%. The firm had revenue of $243.25 million for the quarter, compared to analysts’ expectations of $239.85 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that UDR Inc. will post $1.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Tuesday, October 11th were issued 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 3.45%. UDR’s payout ratio is 145.68%.
Several equities analysts have issued reports on the company. Citigroup Inc. boosted their target price on UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded UDR from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. BTIG Research started coverage on UDR in a research report on Thursday, August 25th. They set a “buy” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. restated a “buy” rating and issued a $40.00 price target on shares of UDR in a report on Wednesday, November 16th. Finally, BMO Capital Markets cut UDR from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $38.00 to $35.00 in a report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.46.
In other UDR news, Director Clinton D. Mcdonnough purchased 3,000 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $34.54 per share, for a total transaction of $103,620.00. Following the completion of the transaction, the director now owns 7,000 shares in the company, valued at approximately $241,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Warren L. Troupe sold 15,000 shares of UDR stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $36.70, for a total transaction of $550,500.00. Following the completion of the transaction, the vice president now owns 562,903 shares in the company, valued at approximately $20,658,540.10. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
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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