ProShare Advisors LLC Grows Stock Holdings in UDR, Inc. (NYSE:UDR)

ProShare Advisors LLC lifted its holdings in UDR, Inc. (NYSE:UDR) by 108.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,128 shares of the real estate investment trust’s stock after purchasing an additional 80,157 shares during the quarter. ProShare Advisors LLC’s holdings in UDR were worth $6,342,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in UDR. Capital Research Global Investors purchased a new stake in UDR during the 1st quarter valued at about $176,137,000. Centersquare Investment Management LLC grew its holdings in UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after purchasing an additional 2,145,242 shares during the period. Balyasny Asset Management L.P. purchased a new stake in UDR in the 4th quarter worth $79,897,000. Heitman Real Estate Securities LLC purchased a new stake in shares of UDR during the fourth quarter worth about $60,952,000. Finally, Daiwa Securities Group Inc. increased its stake in 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 buying an additional 1,359,804 shares in the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on UDR. Piper Sandler upped their target price on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada cut 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. Wedbush boosted their price target 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 began coverage on UDR in a report on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price objective on the stock. Finally, Evercore ISI increased their target price on shares of UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, UDR presently has an average rating of “Hold” and a consensus target price of $44.28.

UDR Trading Down 0.7 %

UDR opened at $45.68 on Thursday. 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, Inc. has a 52 week low of $30.95 and a 52 week high of $47.55. The business’s 50 day moving average is $43.23 and its two-hundred day moving average is $40.25. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 10.16 and a beta of 0.85.

UDR (NYSE:UDR) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 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 analysts’ expectations of $413.75 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts predict that UDR, Inc. will post 2.47 EPS for the current year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, October 10th. UDR’s dividend payout ratio is presently 123.19%.

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.