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

Bank of New York Mellon Corp decreased its stake in UDR, Inc. (NYSE:UDR) by 1.6% in the 2nd 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.

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. acquired a new position in UDR in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of UDR in the 1st quarter valued at about $26,000. Family Firm Inc. purchased a new stake in shares of UDR in the 2nd quarter valued at about $26,000. Quest Partners LLC acquired a new stake in shares of UDR in the 4th quarter valued at about $27,000. Finally, Blue Trust Inc. grew its stake 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 buying an additional 947 shares during the last quarter. 97.84% of the stock is owned 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 decreased their target price 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 boosted their price target 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. upped their price target 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.

UDR Price Performance

UDR stock opened at $43.64 on Wednesday. UDR, Inc. 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 business 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) last released 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 $0.61 EPS. 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 Dividend

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 a $1.70 annualized dividend 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 presently 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 stock was 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 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 stock.

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.