Creative Planning Acquires 2,181 Shares of UDR, Inc. (NYSE:UDR)

Creative Planning boosted its holdings in UDR, Inc. (NYSE:UDR) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,732 shares of the real estate investment trust’s stock after acquiring an additional 2,181 shares during the quarter. Creative Planning’s holdings in UDR were worth $647,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hummer Financial Advisory Services Inc boosted its stake in shares of UDR by 2.9% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 335 shares in the last quarter. Integrity Wealth Solutions LLC boosted its position in UDR by 8.2% in the first quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 484 shares in the last quarter. Covestor Ltd grew its stake in UDR by 18.3% during the first quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 515 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of UDR by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 189,355 shares of the real estate investment trust’s stock worth $7,083,000 after buying an additional 551 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of UDR by 12.4% in the second quarter. V Square Quantitative Management LLC now owns 5,658 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 626 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UDR shares. 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 research report on Monday, July 15th. JPMorgan Chase & Co. lifted their price target on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wedbush increased their price objective on shares of UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler boosted their target price 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. Finally, Scotiabank upped their target price on shares of UDR from $45.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.28.

UDR Stock Up 0.7 %

Shares of UDR stock opened at $43.72 on Monday. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $47.55. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. The company has a market capitalization of $14.42 billion, a P/E ratio of 106.64, a price-to-earnings-growth ratio of 9.52 and a beta of 0.85. The business has a 50-day moving average of $44.04 and a two-hundred day moving average of $40.91.

UDR (NYSE:UDR) last announced its quarterly earnings results 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). UDR had a net margin of 8.34% and a return on equity of 3.70%. The company had revenue of $415.30 million during the quarter, compared to the consensus estimate of $413.75 million. During the same period in the previous year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that UDR, Inc. will post 2.47 EPS 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 paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio is 414.64%.

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.