Exchange Traded Concepts LLC Boosts Stock Position in UDR, Inc. (NYSE:UDR)

Exchange Traded Concepts LLC grew its stake in shares of UDR, Inc. (NYSE:UDR) by 267.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,061 shares of the real estate investment trust’s stock after acquiring an additional 2,227 shares during the period. Exchange Traded Concepts LLC’s holdings in UDR were worth $139,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of UDR during the second quarter worth $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of UDR during the first quarter worth $26,000. UMB Bank n.a. purchased a new stake in shares of UDR during the second quarter worth $33,000. Rothschild Investment LLC purchased a new stake in shares of UDR during the second quarter worth $35,000. Finally, Quest Partners LLC purchased a new stake in shares of UDR during the second quarter worth $37,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Up 1.1 %

Shares of NYSE:UDR opened at $44.27 on Wednesday. The stock’s 50-day moving average price is $44.47 and its 200-day moving average price is $41.29. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55. The stock has a market capitalization of $14.60 billion, a P/E ratio of 107.98, a price-to-earnings-growth ratio of 9.81 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.

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 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 company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that UDR, Inc. will post 2.47 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. Investors of record on Thursday, October 10th will be paid a $0.425 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.84%. UDR’s payout ratio is presently 414.64%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UDR. Wedbush increased their price objective on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. UBS Group increased their price objective on UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company increased their price objective on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Evercore ISI increased their price objective on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.