Bleakley Financial Group LLC Has $2.33 Million Stake in UDR, Inc. (NYSE:UDR)

Bleakley Financial Group LLC trimmed its holdings in shares of UDR, Inc. (NYSE:UDR) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,270 shares of the real estate investment trust’s stock after selling 625 shares during the period. Bleakley Financial Group LLC’s holdings in UDR were worth $2,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in UDR by 267.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 2,227 shares in the last quarter. Inspire Investing LLC increased its stake in shares of UDR by 58.8% in the 3rd quarter. Inspire Investing LLC now owns 57,892 shares of the real estate investment trust’s stock valued at $2,625,000 after buying an additional 21,435 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of UDR by 710.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,335 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 3,800 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of UDR in the 3rd quarter valued at $8,382,000. Finally, BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of UDR in the 3rd quarter valued at $10,987,000. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Performance

UDR stock opened at $44.77 on Friday. The business’s 50-day moving average price is $44.38 and its two-hundred day moving average price is $41.15. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a market cap of $14.74 billion, a PE ratio of 32.44, a P/E/G ratio of 9.63 and a beta of 0.85. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $47.55.

UDR (NYSE:UDR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). The business had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.80%. UDR’s dividend payout ratio is presently 123.19%.

Analyst Ratings Changes

Several equities research analysts have recently commented on UDR shares. Evercore ISI lifted their target price on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research note on Monday, September 9th. Wedbush lifted their target price on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Scotiabank lifted their target price on UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Royal Bank of Canada lowered their target price on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Finally, Truist Financial lifted their target price on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, UDR currently has a consensus rating of “Hold” and an average target price 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.