Quadrature Capital Ltd purchased a new position in UDR, Inc. (NYSE:UDR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,735 shares of the real estate investment trust’s stock, valued at approximately $1,111,000.
Other institutional investors have also recently made changes to their positions in the company. Ellevest Inc. boosted its stake in UDR by 601.9% during the second quarter. Ellevest Inc. now owns 744 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 638 shares in the last quarter. Allworth Financial LP raised its holdings in UDR by 486.4% in the second quarter. Allworth Financial LP now owns 774 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 642 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in UDR by 60.9% in the first quarter. First Horizon Advisors Inc. now owns 1,107 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 419 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in UDR in the second quarter worth about $50,000. Finally, Cornerstone Advisors Inc. raised its holdings in UDR by 225.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,403 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 972 shares during the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Harry G. Alcock sold 10,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $42.50, for a total transaction of $425,000.00. Following the sale, the senior vice president now owns 77,261 shares of the company’s stock, valued at $3,283,592.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.69% of the stock is owned by corporate insiders.
Several brokerages have issued reports on UDR. Zelman & Associates cut shares of UDR from a “hold” rating to a “sell” rating in a report on Friday, July 17th. Piper Sandler cut shares of UDR from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $38.00 to $33.00 in a report on Monday, July 27th. Mizuho raised shares of UDR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a report on Tuesday, May 19th. Morgan Stanley raised shares of UDR from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $34.00 in a report on Thursday, August 27th. Finally, Evercore ISI raised shares of UDR from an “underperform” rating to an “in-line” rating and boosted their price objective for the company from $38.00 to $41.00 in a report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.38.
Shares of NYSE:UDR traded up $0.17 during midday trading on Friday, reaching $35.31. 2,098,835 shares of the company were exchanged, compared to its average volume of 1,576,824. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average is $35.40 and its two-hundred day moving average is $38.19. UDR, Inc. has a one year low of $29.20 and a one year high of $51.25. The stock has a market cap of $10.42 billion, a PE ratio of 56.95, a price-to-earnings-growth ratio of 4.11 and a beta of 0.54.
UDR (NYSE:UDR) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.34). The business had revenue of $307.26 million for the quarter, compared to analysts’ expectations of $314.90 million. UDR had a net margin of 15.31% and a return on equity of 5.63%. UDR’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts expect that UDR, Inc. will post 2.08 EPS for the current year.
UDR Company 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 properties in targeted U.S.
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