UDR, Inc. (NYSE:UDR) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its holdings in UDR, Inc. (NYSE:UDR) by 57.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,298 shares of the real estate investment trust’s stock after selling 439,500 shares during the quarter. Renaissance Technologies LLC owned 0.10% of UDR worth $13,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. purchased a new position in shares of UDR during the 4th quarter valued at about $26,000. Envestnet Portfolio Solutions Inc. purchased a new position in UDR during the fourth quarter valued at approximately $239,000. Quest Partners LLC acquired a new position in UDR in the fourth quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. boosted its position in UDR by 1.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 421,051 shares of the real estate investment trust’s stock worth $16,122,000 after purchasing an additional 5,145 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of UDR by 6.2% during the 4th quarter. Hsbc Holdings PLC now owns 761,659 shares of the real estate investment trust’s stock worth $29,205,000 after purchasing an additional 44,677 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Down 1.1 %

Shares of NYSE:UDR opened at $45.62 on Monday. UDR, Inc. has a 52-week low of $30.95 and a 52-week high of $47.55. The stock has a market cap of $15.02 billion, a P/E ratio of 33.06, a PEG ratio of 10.30 and a beta of 0.85. The business has a fifty day moving average of $42.94 and a two-hundred day moving average of $40.10. 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 released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.53). The firm had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. UDR’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, research analysts expect that UDR, Inc. will post 2.46 earnings per share for the current year.

UDR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 is Thursday, October 10th. UDR’s dividend payout ratio is presently 123.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UDR. UBS Group boosted their target price on shares of UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Evercore ISI increased their target price on shares of UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research note on Monday, September 9th. Wedbush lifted their price target on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group initiated coverage on UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, UDR currently has a consensus rating of “Hold” and a consensus target price of $44.28.

UDR Company 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.