UDR, Inc. (NYSE:UDR) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its position in UDR, Inc. (NYSE:UDR) by 115.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,499,150 shares of the real estate investment trust’s stock after purchasing an additional 1,874,096 shares during the period. Millennium Management LLC owned about 1.06% of UDR worth $143,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in UDR. Fidelis Capital Partners LLC purchased a new position in UDR in the first quarter valued at $26,000. Family Firm Inc. purchased a new position in shares of UDR in the 2nd quarter valued at about $26,000. Quest Partners LLC purchased a new position in shares of UDR in the 4th quarter valued at about $27,000. UMB Bank n.a. acquired a new position in UDR in the 2nd quarter worth about $33,000. Finally, Rothschild Investment LLC purchased a new position in UDR during the second quarter worth approximately $35,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Stock Down 0.5 %

NYSE UDR opened at $44.99 on Friday. The business’s fifty day simple moving average is $43.30 and its 200-day simple moving average is $40.29. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a market cap of $14.84 billion, a PE ratio of 32.60, a P/E/G ratio of 10.09 and a beta of 0.85. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $47.55.

UDR (NYSE:UDR) last issued its 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). UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $413.75 million. During the same period last year, the firm earned $0.61 earnings per share. UDR’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.78%. UDR’s dividend payout ratio (DPR) is 123.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group boosted their price objective on UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Truist Financial upped their price objective on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Wedbush increased their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised their price target on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.28.

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.