Toronto Dominion Bank Sells 1,959 Shares of UDR, Inc. (NYSE:UDR)

Toronto Dominion Bank lessened its stake in shares of UDR, Inc. (NYSE:UDR) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,987 shares of the real estate investment trust’s stock after selling 1,959 shares during the quarter. Toronto Dominion Bank’s holdings in UDR were worth $3,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in UDR. TD Asset Management Inc boosted its position in shares of UDR by 4.1% during the 4th quarter. TD Asset Management Inc now owns 100,824 shares of the real estate investment trust’s stock worth $3,861,000 after purchasing an additional 4,010 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of UDR by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 149,716 shares of the real estate investment trust’s stock worth $5,733,000 after purchasing an additional 1,430 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of UDR by 34.4% during the 4th quarter. Bank of Nova Scotia now owns 38,255 shares of the real estate investment trust’s stock worth $1,465,000 after purchasing an additional 9,795 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of UDR by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 477,638 shares of the real estate investment trust’s stock worth $18,289,000 after purchasing an additional 2,414 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of UDR by 19.8% during the 4th quarter. Rafferty Asset Management LLC now owns 40,583 shares of the real estate investment trust’s stock worth $1,554,000 after purchasing an additional 6,720 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Price Performance

UDR opened at $44.99 on Monday. The firm has a 50-day moving average price of $43.37 and a 200-day moving average price of $40.36. UDR, Inc. has a twelve month low of $30.95 and a twelve month high of $47.55. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 10.09 and a beta of 0.85.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $413.75 million. During the same period last year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts expect that UDR, Inc. will post 2.47 EPS for the current year.

UDR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, October 10th. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UDR. BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and raised their price target for the company from $39.00 to $45.00 in a research report on Monday, July 15th. Scotiabank raised their price target on shares of UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Piper Sandler raised their price target on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. raised their price target on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Evercore ISI raised their price target on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research report on Monday, September 9th. 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 MarketBeat.com, UDR has an average rating of “Hold” and a consensus price target of $44.28.

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.