Public Sector Pension Investment Board Acquires 6,327 Shares of UDR, Inc. (NYSE:UDR)

Public Sector Pension Investment Board lifted its holdings in shares of UDR, Inc. (NYSE:UDR) by 17.8% during the 2nd quarter, Holdings Channel reports. The firm owned 41,859 shares of the real estate investment trust’s stock after purchasing an additional 6,327 shares during the quarter. Public Sector Pension Investment Board’s holdings in UDR were worth $1,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in UDR. Capital Research Global Investors bought a new stake in shares of UDR during the 1st quarter valued at about $176,137,000. Centersquare Investment Management LLC boosted its position in shares of UDR by 35.9% during the 4th 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. bought a new stake in shares of UDR during the 4th quarter valued at about $79,897,000. Heitman Real Estate Securities LLC bought a new stake in shares of UDR during the 4th quarter valued at about $60,952,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of 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 valued at $279,373,000 after purchasing an additional 1,359,804 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

Shares of UDR opened at $45.34 on Tuesday. 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 capitalization of $14.95 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 9.86 and a beta of 0.85. The stock has a 50 day moving average of $43.44 and a 200 day moving average of $40.44. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The business had revenue of $415.30 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts forecast that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s payout ratio is 123.19%.

Analysts Set New Price Targets

UDR has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. BMO Capital Markets upgraded UDR from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $45.00 in a report on Monday, July 15th. Truist Financial increased their price target on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. BNP Paribas started coverage on UDR in a report on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target on the stock. Finally, Evercore ISI increased their price target on 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.28.

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.