Brookstone Capital Management Has $1.33 Million Stake in UDR, Inc. (NYSE:UDR)

Brookstone Capital Management reduced its holdings in UDR, Inc. (NYSE:UDR) by 19.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,387 shares of the real estate investment trust’s stock after selling 7,273 shares during the quarter. Brookstone Capital Management’s holdings in UDR were worth $1,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UDR. Vanguard Group Inc. increased its position in shares of UDR by 0.5% in the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock valued at $1,910,275,000 after acquiring an additional 233,475 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of UDR by 17.7% during the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of UDR by 22.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after purchasing an additional 1,359,804 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of UDR by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock valued at $194,737,000 after buying an additional 103,384 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in shares of UDR in the first quarter valued at $176,137,000. 97.84% of the stock is owned by institutional investors.

UDR Stock Performance

NYSE UDR opened at $43.72 on Friday. The firm has a 50-day moving average price of $43.98 and a two-hundred day moving average price of $40.80. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55. The company has a market capitalization of $14.40 billion, a P/E ratio of 31.72, a P/E/G ratio of 9.68 and a beta of 0.85. 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 (NYSE:UDR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (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 company had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. During the same period in the prior year, the company earned $0.61 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio (DPR) is presently 123.19%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UDR. Scotiabank upped their price target on shares of UDR from $45.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. BNP Paribas began coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 target price for the company. JPMorgan Chase & Co. boosted their price target on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial raised their price objective on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada decreased their target price on UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.28.

About UDR

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.