HBK Sorce Advisory LLC Trims Stock Position in UDR, Inc. (NYSE:UDR)

HBK Sorce Advisory LLC cut its holdings in UDR, Inc. (NYSE:UDR) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,771 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. HBK Sorce Advisory LLC’s holdings in UDR were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UDR. Family Firm Inc. acquired a new stake in UDR during the 2nd quarter valued at $26,000. Principal Securities Inc. purchased a new stake in shares of UDR in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of UDR during the first quarter valued at $26,000. Quest Partners LLC purchased a new stake in UDR during the 4th quarter worth about $27,000. Finally, UMB Bank n.a. acquired a new position in UDR in the 2nd quarter valued at about $33,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Price Performance

UDR opened at $47.13 on Friday. The company has a 50 day moving average of $42.37 and a two-hundred day moving average of $39.73. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR, Inc. has a 52-week low of $30.95 and a 52-week high of $47.22. The company has a market cap of $15.54 billion, a P/E ratio of 34.15, a P/E/G ratio of 10.21 and a beta of 0.85.

UDR (NYSE:UDR) last issued its quarterly earnings data 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 return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that UDR, Inc. will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on UDR. Truist Financial raised their price target on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada lowered 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. BMO Capital Markets raised UDR from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $45.00 in a research note on Monday, July 15th. Evercore ISI lifted their price objective on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research report on Monday, September 9th. Finally, Scotiabank increased their target price on UDR from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.67.

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.