UMB Bank n.a. Takes Position in UDR, Inc. (NYSE:UDR)

UMB Bank n.a. acquired a new stake in UDR, Inc. (NYSE:UDR) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 794 shares of the real estate investment trust’s stock, valued at approximately $33,000.

Several other hedge funds have also modified their holdings of UDR. Principal Securities Inc. purchased a new stake in shares of UDR during the fourth quarter valued at $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of UDR during the first quarter valued at $26,000. Family Firm Inc. purchased a new stake in shares of UDR during the second quarter valued at $26,000. Quest Partners LLC purchased a new stake in shares of UDR during the fourth quarter valued at $27,000. Finally, Blue Trust Inc. lifted its holdings in shares of UDR by 1,018.3% during the second quarter. Blue Trust Inc. now owns 1,040 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 947 shares during the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the sale, the chief executive officer now owns 849,716 shares in the company, valued at approximately $33,580,776.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UDR shares. Royal Bank of Canada reduced their target price on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Evercore ISI upped their price target on UDR from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Wednesday. Mizuho upped their price target on UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. UBS Group upped their price target on UDR from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price target on UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and seven have issued 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 $42.65.

UDR Stock Performance

Shares of NYSE UDR opened at $44.51 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 9.49 and a beta of 0.83. The business’s 50-day simple moving average is $41.50 and its 200-day simple moving average is $39.07. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.53.

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). The company had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, equities research analysts expect that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

UDR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Wednesday, July 10th. UDR’s dividend payout ratio is 123.19%.

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.