Thrivent Financial for Lutherans Sells 13,184 Shares of UDR, Inc. (NYSE:UDR)

Thrivent Financial for Lutherans lessened its stake in shares of UDR, Inc. (NYSE:UDR) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,627 shares of the real estate investment trust’s stock after selling 13,184 shares during the quarter. Thrivent Financial for Lutherans owned about 0.11% of UDR worth $15,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in UDR. Capital Research Global Investors bought a new position in shares of UDR during the 1st quarter worth about $176,137,000. Centersquare Investment Management LLC lifted its position in UDR by 35.9% in the 4th 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 acquiring an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in UDR in the 4th quarter valued at about $79,897,000. Heitman Real Estate Securities LLC bought a new position in UDR in the 4th quarter valued at about $60,952,000. Finally, Daiwa Securities Group Inc. lifted its position in 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 acquiring an additional 1,359,804 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Stock Down 0.7 %

UDR stock opened at $46.02 on Wednesday. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $47.55. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 10.30 and a beta of 0.85. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a 50 day simple moving average of $43.15 and a 200 day simple moving average of $40.22.

UDR (NYSE:UDR) last released 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). UDR had a net margin of 8.34% and a return on equity of 3.70%. 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 prior year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that UDR, Inc. will post 2.46 earnings per share for the current year.

UDR Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 3.69%. The ex-dividend date is Thursday, October 10th. UDR’s payout ratio is 123.19%.

Analyst Upgrades and Downgrades

UDR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on shares of UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price target on the stock. BNP Paribas initiated coverage on shares of UDR in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target on the stock. Evercore ISI raised 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, Piper Sandler raised their price target on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.