Lighthouse Investment Partners LLC Takes $10.70 Million Position in UDR, Inc. (NYSE:UDR)

Lighthouse Investment Partners LLC bought a new stake in UDR, Inc. (NYSE:UDR) in the second quarter, HoldingsChannel.com reports. The fund bought 260,000 shares of the real estate investment trust’s stock, valued at approximately $10,699,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UDR. Capital Research Global Investors purchased a new position in shares of UDR in the first quarter valued at $176,137,000. Centersquare Investment Management LLC grew its holdings in shares of 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 in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of UDR in the fourth quarter valued at $79,897,000. Millennium Management LLC grew its holdings in shares of UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock valued at $143,990,000 after purchasing an additional 1,874,096 shares in the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new position in shares of UDR in the fourth quarter valued at $60,952,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UDR has been the subject of several recent analyst reports. Scotiabank lifted their price objective on shares of UDR from $45.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of UDR in a research note on Wednesday, September 4th. They set a “sell” rating and a $42.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and a consensus price target of $44.28.

UDR Stock Down 1.1 %

NYSE:UDR opened at $45.20 on Friday. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $47.55. The company has a 50-day moving average of $43.23 and a 200 day moving average of $40.25. The firm has a market cap of $14.91 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 10.09 and a beta of 0.85. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82.

UDR (NYSE:UDR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The business had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, research analysts anticipate that UDR, Inc. will post 2.47 EPS for the current fiscal year.

UDR Dividend Announcement

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 given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, October 10th. UDR’s payout ratio is 123.19%.

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.