Chesapeake Wealth Management Reduces Stock Position in UDR, Inc. (NYSE:UDR)

Chesapeake Wealth Management cut its holdings in UDR, Inc. (NYSE:UDR) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,992 shares of the real estate investment trust’s stock after selling 963 shares during the period. Chesapeake Wealth Management’s holdings in UDR were worth $247,000 as of its most recent SEC filing.

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

UDR Stock Down 1.1 %

Shares of NYSE:UDR opened at $45.62 on Friday. The company has a market cap of $15.02 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 10.30 and a beta of 0.85. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $47.55. The firm’s 50-day simple moving average is $42.94 and its 200-day simple moving average is $40.06. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57.

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

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Analyst Ratings Changes

UDR has been the subject of several research analyst reports. Wedbush upped their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BMO Capital Markets raised UDR from a “market perform” rating to an “outperform” rating and upped their target price for the company from $39.00 to $45.00 in a research report on Monday, July 15th. BNP Paribas started coverage on UDR in a research note on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price target on the stock. Wells Fargo & Company boosted their price objective on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Piper Sandler increased their price objective on UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.28.

About UDR

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.