Mackenzie Financial Corp Sells 14,997 Shares of UDR, Inc. (NYSE:UDR)

Mackenzie Financial Corp decreased its position in UDR, Inc. (NYSE:UDR) by 53.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,878 shares of the real estate investment trust’s stock after selling 14,997 shares during the period. Mackenzie Financial Corp’s holdings in UDR were worth $530,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hummer Financial Advisory Services Inc grew its stake in UDR by 2.9% in the first quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 335 shares during the period. Integrity Wealth Solutions LLC raised its holdings in UDR by 8.2% during the 1st quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 484 shares during the period. Covestor Ltd lifted its stake in UDR by 18.3% in the first quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 515 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in UDR by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 189,355 shares of the real estate investment trust’s stock valued at $7,083,000 after buying an additional 551 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of UDR by 12.4% in the second quarter. V Square Quantitative Management LLC now owns 5,658 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 626 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada reduced their price objective on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. BNP Paribas started coverage on UDR in a research report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price target for the company. Finally, Evercore ISI lifted their price objective on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.28.

UDR Stock Performance

UDR opened at $44.59 on Friday. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 9.89 and a beta of 0.85. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55. The business has a 50 day moving average of $43.71 and a 200-day moving average of $40.64.

UDR (NYSE:UDR) last released its quarterly earnings data 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). The company had revenue of $415.30 million for 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 company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. On average, equities research analysts expect that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Announces Dividend

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