Envestnet Asset Management Inc. Purchases 80,706 Shares of UDR, Inc. (NYSE:UDR)

Envestnet Asset Management Inc. lifted its position in shares of UDR, Inc. (NYSE:UDR) by 77.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 185,559 shares of the real estate investment trust’s stock after buying an additional 80,706 shares during the quarter. Envestnet Asset Management Inc.’s holdings in UDR were worth $7,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of UDR by 0.5% during the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after purchasing an additional 233,475 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in UDR by 3.8% in the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after acquiring an additional 984,807 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in 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 valued at $363,688,000 after acquiring an additional 1,433,463 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in UDR by 22.3% in the first quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock valued at $279,373,000 after acquiring an additional 1,359,804 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in UDR in the first quarter valued at approximately $176,137,000. 97.84% of the stock is currently owned by institutional investors.

UDR Price Performance

Shares of NYSE:UDR opened at $44.99 on Friday. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR, Inc. has a twelve month low of $30.95 and a twelve month high of $47.55. The stock’s 50 day moving average is $43.37 and its 200-day moving average is $40.34. The firm has a market capitalization of $14.84 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 10.09 and a beta of 0.85.

UDR (NYSE:UDR) last issued its 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 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 analyst estimates of $413.75 million. During the same period in the previous year, the company earned $0.61 earnings per share. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that UDR, Inc. will post 2.47 EPS for the current fiscal year.

UDR Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada reduced their target price on UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, August 1st. UBS Group upped their target price on UDR from $48.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group assumed coverage on UDR in a report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 target price on the stock. Piper Sandler upped their target price on UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, 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 report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.