Quarry LP Decreases Holdings in UDR, Inc. (NYSE:UDR)

Quarry LP cut its stake in shares of UDR, Inc. (NYSE:UDR) by 35.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,020 shares of the real estate investment trust’s stock after selling 560 shares during the period. Quarry LP’s holdings in UDR were worth $42,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in UDR by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after buying an additional 233,475 shares in the last quarter. Cohen & Steers Inc. increased its stake in UDR by 3.8% in the 4th quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock worth $1,025,351,000 after buying an additional 984,807 shares in the last quarter. Centersquare Investment Management LLC increased its stake in UDR by 17.7% in the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares in the last quarter. Daiwa Securities Group Inc. increased its stake 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 worth $279,373,000 after buying an additional 1,359,804 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in UDR by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after buying an additional 103,384 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on UDR. BMO Capital Markets upgraded UDR from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $45.00 in a research note on Monday, July 15th. Royal Bank of Canada dropped their price objective on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company 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 set a “sell” rating and a $42.00 price objective for the company. Wedbush increased their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.28.

UDR Stock Down 0.2 %

Shares of NYSE UDR opened at $44.59 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. The company has a market cap of $14.71 billion, a P/E ratio of 32.31, a PEG ratio of 9.89 and a beta of 0.85. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $47.55. The firm has a 50-day simple moving average of $43.71 and a two-hundred day simple moving average of $40.64.

UDR (NYSE:UDR) last announced 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 during the quarter, compared to the consensus estimate of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. Research analysts anticipate that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.81%. UDR’s payout ratio is currently 123.19%.

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.