Principal Financial Group Inc. lessened its holdings in shares of UDR, Inc. (NYSE:UDR) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,177 shares of the real estate investment trust’s stock after selling 24,051 shares during the quarter. Principal Financial Group Inc. owned approximately 0.17% of UDR worth $16,245,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its stake in shares of UDR by 34.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 235,330 shares of the real estate investment trust’s stock valued at $7,674,000 after buying an additional 60,374 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of UDR by 12.1% in the 2nd quarter. State of Michigan Retirement System now owns 75,352 shares of the real estate investment trust’s stock valued at $2,817,000 after buying an additional 8,148 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of UDR by 11.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 243,557 shares of the real estate investment trust’s stock valued at $9,104,000 after buying an additional 24,050 shares in the last quarter. UBS Group AG grew its stake in shares of UDR by 55.2% in the 2nd quarter. UBS Group AG now owns 359,892 shares of the real estate investment trust’s stock valued at $13,453,000 after buying an additional 128,011 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of UDR by 191.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,251 shares of the real estate investment trust’s stock valued at $1,991,000 after buying an additional 34,993 shares in the last quarter. 98.10% of the stock is owned by institutional investors and hedge funds.
UDR has been the subject of several recent research reports. Evercore ISI raised UDR from an “in-line” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Monday, November 2nd. Zacks Investment Research upgraded UDR from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Monday, August 17th. Capital One Financial lowered UDR from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 4th. Piper Sandler lowered UDR from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $38.00 to $33.00 in a report on Monday, July 27th. Finally, KeyCorp reduced their target price on UDR from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Two 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 company. The stock has a consensus rating of “Hold” and an average target price of $42.50.
UDR (NYSE:UDR) last released its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.59). The firm had revenue of $310.04 million for the quarter, compared to the consensus estimate of $305.51 million. UDR had a net margin of 15.31% and a return on equity of 5.63%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, equities analysts predict that UDR, Inc. will post 2.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, October 8th. UDR’s dividend payout ratio is presently 69.23%.
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.
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