Canada Pension Plan Investment Board Acquires 76,500 Shares of UDR, Inc. (NYSE:UDR)

Canada Pension Plan Investment Board raised its holdings in UDR, Inc. (NYSE:UDR) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,982,797 shares of the real estate investment trust’s stock after purchasing an additional 76,500 shares during the period. Canada Pension Plan Investment Board owned 0.90% of UDR worth $122,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of UDR. Capital Research Global Investors purchased a new position in UDR in the 1st quarter valued at approximately $176,137,000. Centersquare Investment Management LLC grew its position in shares of UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after purchasing an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of UDR during the 4th quarter valued at $79,897,000. Heitman Real Estate Securities LLC purchased a new stake in UDR during the 4th quarter worth about $60,952,000. Finally, Daiwa Securities Group Inc. lifted its holdings in UDR by 22.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after purchasing an additional 1,359,804 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Trading Down 1.1 %

UDR stock opened at $45.62 on Friday. The company has a market capitalization of $15.02 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 10.30 and a beta of 0.85. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. UDR, Inc. has a one year low of $30.95 and a one year high of $47.55. The company’s 50 day moving average price is $42.94 and its two-hundred day moving average price is $40.06.

UDR (NYSE:UDR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The business had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. During the same quarter in the previous year, the business earned $0.61 EPS. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts predict that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

UDR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio is presently 123.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their price target on UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada decreased their target price on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group began coverage on shares of UDR in a report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price target for the company. Evercore ISI boosted their price target on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research report on Monday, September 9th. Finally, Truist Financial increased their price objective on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.28.

UDR Profile

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.