Martingale Asset Management L P grew its stake in shares of UDR, Inc. (NYSE:UDR) by 118.4% during the fourth quarter, HoldingsChannel reports. The firm owned 586,239 shares of the real estate investment trust’s stock after purchasing an additional 317,789 shares during the period. Martingale Asset Management L P’s holdings in UDR were worth $22,583,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board raised its holdings in UDR by 5.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 189,559 shares of the real estate investment trust’s stock worth $7,302,000 after purchasing an additional 9,439 shares in the last quarter. American International Group Inc. raised its holdings in UDR by 12.4% during the fourth quarter. American International Group Inc. now owns 89,636 shares of the real estate investment trust’s stock worth $3,453,000 after purchasing an additional 9,858 shares in the last quarter. Wealthfront Inc. acquired a new stake in UDR during the fourth quarter worth approximately $617,000. UBS Asset Management Americas Inc. raised its holdings in UDR by 3.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,361,169 shares of the real estate investment trust’s stock worth $52,432,000 after purchasing an additional 49,173 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in UDR by 1.2% during the fourth quarter. BlackRock Inc. now owns 29,344,904 shares of the real estate investment trust’s stock worth $1,130,365,000 after purchasing an additional 354,311 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.
In other news, CEO Thomas W. Toomey sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.20, for a total transaction of $784,000.00. Following the transaction, the chief executive officer now directly owns 1,127,925 shares in the company, valued at $44,214,660. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.07% of the company’s stock.
UDR, Inc. (NYSE:UDR) opened at $34.14 on Friday. The company has a current ratio of 4.93, a quick ratio of 5.45 and a debt-to-equity ratio of 1.32. The stock has a market cap of $8,967.27, a P/E ratio of 17.88, a PEG ratio of 3.08 and a beta of 0.33. UDR, Inc. has a 1 year low of $32.88 and a 1 year high of $40.71.
UDR (NYSE:UDR) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $250.12 million for the quarter, compared to analyst estimates of $250.37 million. UDR had a net margin of 12.21% and a return on equity of 4.53%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. research analysts predict that UDR, Inc. will post 1.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.63%. UDR’s dividend payout ratio (DPR) is presently 288.37%.
A number of research firms have weighed in on UDR. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price objective (down previously from $42.00) on shares of UDR in a report on Wednesday. SunTrust Banks set a $38.00 price objective on shares of UDR and gave the stock a “hold” rating in a report on Monday, February 12th. Mizuho set a $38.00 price objective on shares of UDR and gave the stock a “buy” rating in a report on Friday, February 9th. TheStreet cut shares of UDR from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Zacks Investment Research raised shares of UDR from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. UDR currently has an average rating of “Hold” and a consensus target price of $39.23.
UDR Company Profile
UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.
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