UDR (UDR) Hits New 1-Year High at $41.07

UDR, Inc. (NYSE:UDR) shares reached a new 52-week high on Tuesday . The company traded as high as $41.07 and last traded at $40.88, with a volume of 102731 shares changing hands. The stock had previously closed at $39.54.

A number of research firms recently weighed in on UDR. Royal Bank of Canada raised their target price on shares of UDR from $39.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, August 10th. Citigroup raised their target price on shares of UDR from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. Robert W. Baird reissued a “buy” rating and issued a $40.00 target price on shares of UDR in a report on Thursday, August 16th. ValuEngine raised shares of UDR from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of UDR from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $39.50.

The company has a current ratio of 5.97, a quick ratio of 6.03 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $10.80 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 3.39 and a beta of 0.33.

UDR (NYSE:UDR) last posted its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $266.10 million during the quarter, compared to analyst estimates of $258.90 million. UDR had a net margin of 18.43% and a return on equity of 7.09%. UDR’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, analysts predict that UDR, Inc. will post 1.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.3323 per share. This represents a $1.33 annualized dividend and a yield of 3.38%. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, October 9th. UDR’s payout ratio is presently 68.98%.

In other UDR news, VP Warren L. Troupe sold 40,000 shares of UDR stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $39.10, for a total transaction of $1,564,000.00. Following the completion of the transaction, the vice president now directly owns 549,634 shares of the company’s stock, valued at $21,490,689.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerry A. Davis sold 10,000 shares of UDR stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $38.75, for a total transaction of $387,500.00. Following the transaction, the insider now directly owns 234,669 shares of the company’s stock, valued at $9,093,423.75. The disclosure for this sale can be found here. Insiders have sold 114,773 shares of company stock valued at $4,545,229 over the last ninety days. 3.16% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of UDR. Bank of Montreal Can purchased a new stake in shares of UDR during the second quarter valued at $47,089,000. Standard Life Aberdeen plc raised its holdings in shares of UDR by 1,910.7% in the second quarter. Standard Life Aberdeen plc now owns 1,050,547 shares of the real estate investment trust’s stock valued at $39,437,000 after acquiring an additional 998,300 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of UDR by 71.8% in the third quarter. Russell Investments Group Ltd. now owns 2,119,569 shares of the real estate investment trust’s stock valued at $85,211,000 after acquiring an additional 885,971 shares in the last quarter. Millennium Management LLC raised its holdings in shares of UDR by 771.9% in the second quarter. Millennium Management LLC now owns 768,480 shares of the real estate investment trust’s stock valued at $28,849,000 after acquiring an additional 680,346 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in shares of UDR in the second quarter valued at about $24,293,000. 95.35% of the stock is owned by hedge funds and other institutional investors.

About UDR (NYSE: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 properties in targeted U.S.

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