UDR, Inc. (NYSE:UDR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in UDR, Inc. (NYSE:UDR – Free Report) by 1.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,541,557 shares of the real estate investment trust’s stock after selling 41,635 shares during the period. Bank of New York Mellon Corp’s holdings in UDR were worth $104,585,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in UDR in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of UDR in the 1st quarter valued at approximately $26,000. Family Firm Inc. purchased a new stake in shares of UDR in the second quarter valued at about $26,000. Quest Partners LLC purchased a new stake in shares of UDR in the 4th quarter valued at about $27,000. Finally, Blue Trust Inc. raised its holdings in UDR by 1,018.3% during the 2nd quarter. Blue Trust Inc. now owns 1,040 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 947 shares during the last quarter. 97.84% of shares are held by hedge funds and other institutional investors.

Analysts set new price targets

UDR has been the subject of a number of research reports. UBS Group boosted their price objective on UDR from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada cut their price target on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Scotiabank upped their target price on UDR from $43.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on UDR from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Finally, Piper Sandler lifted their price objective on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.59.

See our latest research report on UDR

UDR price performance

Shares of UDR stock opened at $43.64 on Wednesday. UDR, Inc. it has a one year low of $30.95 and a one year high of $43.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82, and a current ratio of 5.82. The company has a fifty day moving average of $41.28 and a two hundred day moving average of $38.90. The company has a market cap of $14.39 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 9.34 and a beta of 0.83.

UDR (NYSE:UDR – Get Your Free Report ) last posted its earnings results 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). 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 analyst estimates of $413.75 million. During the same period last year, the business posted EPS of $0.61. UDR’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

UDR announces dividends

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.425 per share. This represents an annualized dividend of $1.70 and a dividend yield of 3.90%. The ex-dividend date of this dividend was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Insider transactions at UDR

In other news, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction on Friday, June 7th. The shares were sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the transaction, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.73% of the company’s shares.

UDR profile

(Free Report)

UDR, Inc (NYSE: UDR ), an S&P 500 company, is a leading multifamily real estate investment trust with a proven track record of delivering superior and reliable returns through the successful management, purchase, sale, development and redevelopment of attractive real estate communities in targeted real estate communities. US

Further reading

Want to see what other hedge funds own UDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for UDR, Inc. (NYSE:UDR – Free Report).

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