Point72 Asset Management L.P. Purchases New Position in UDR, Inc. (NYSE:UDR)

Point72 Asset Management L.P. acquired a new stake in UDR, Inc. (NYSE:UDR) in the second quarter, according to its most recent filing with the SEC. The fund acquired 14,229 shares of the real estate investment trust’s stock, valued at approximately $586,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Research Global Investors bought a new position in shares of UDR in the first quarter worth $176,137,000. Balyasny Asset Management L.P. purchased a new position in UDR during the 4th quarter valued at about $79,897,000. Millennium Management LLC increased its position in shares of UDR by 115.3% during 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 buying an additional 1,874,096 shares during the period. Heitman Real Estate Securities LLC purchased a new stake in shares of UDR in the fourth quarter worth about $60,952,000. Finally, Centersquare Investment Management LLC lifted its holdings in shares of UDR by 17.7% in the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Stock Down 0.2 %

Shares of NYSE:UDR opened at $44.59 on Friday. The stock has a market capitalization of $14.71 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 9.89 and a beta of 0.85. The stock’s 50-day moving average price is $43.71 and its 200-day moving average price is $40.61. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. UDR’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that UDR, Inc. will post 2.47 earnings per share 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 given a dividend of $0.425 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.81%. UDR’s payout ratio is currently 123.19%.

Analyst Ratings Changes

A number of analysts recently weighed in on UDR shares. BNP Paribas started coverage on shares of UDR in a report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 target price on the stock. The Goldman Sachs Group initiated coverage on UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective on the stock. Royal Bank of Canada dropped their price objective 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. Truist Financial upped their target price on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.