Forsta AP Fonden Sells 51,500 Shares of UDR, Inc. (NYSE:UDR)

Forsta AP Fonden trimmed its holdings in UDR, Inc. (NYSE:UDR) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,200 shares of the real estate investment trust’s stock after selling 51,500 shares during the quarter. Forsta AP Fonden’s holdings in UDR were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of UDR. Capital Research Global Investors bought a new position in shares of UDR in the 1st quarter worth about $176,137,000. Millennium Management LLC increased its stake in shares of UDR by 115.3% in the 2nd quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after acquiring an additional 1,874,096 shares in the last quarter. Centersquare Investment Management LLC increased its stake in shares of UDR by 17.7% in 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 acquiring an additional 1,433,463 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of UDR by 22.3% in 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 acquiring an additional 1,359,804 shares in the last quarter. Finally, PGGM Investments increased its stake in shares of UDR by 38.2% in the 1st quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock worth $120,151,000 after acquiring an additional 887,060 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

UDR Stock Performance

UDR opened at $43.61 on Wednesday. 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 company has a market cap of $14.38 billion, a price-to-earnings ratio of 106.37, a PEG ratio of 9.62 and a beta of 0.85. The company’s 50 day moving average is $44.70 and its 200 day moving average is $41.53. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55.

UDR (NYSE:UDR) last issued its quarterly 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). UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $413.75 million. During the same period in the prior year, the firm earned $0.61 EPS. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that UDR, Inc. will post 2.47 EPS for the current year.

UDR Announces Dividend

The company also recently declared 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. This represents a $1.70 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio is currently 414.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets upgraded shares of UDR from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $39.00 to $45.00 in a research note on Monday, July 15th. UBS Group raised their price objective on shares of UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Wedbush raised their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BNP Paribas assumed coverage on shares of UDR in a research note on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price objective for the company. Finally, Scotiabank raised their price objective on shares of UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.28.

UDR Company 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.