The Manufacturers Life Insurance Company Trims Holdings in UDR, Inc. (NYSE:UDR)

The Manufacturers Life Insurance Company decreased its stake in shares of UDR, Inc. (NYSE:UDR) by 0.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 278,442 shares of the real estate investment trust’s stock after selling 2,064 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of UDR worth $11,458,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UDR. Vanguard Group Inc. grew its position in shares of UDR by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock valued at $1,910,275,000 after purchasing an additional 233,475 shares in the last quarter. Cohen & Steers Inc. increased its stake in UDR by 3.8% in the 4th quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock worth $1,025,351,000 after acquiring an additional 984,807 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of UDR by 17.7% in the 1st 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 in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of UDR by 22.3% during the 1st 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, Dimensional Fund Advisors LP grew its holdings in shares of UDR by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after purchasing an additional 103,384 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UDR shares. JPMorgan Chase & Co. raised their target price on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wedbush raised their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group began coverage on shares of UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 target price for the company. UBS Group raised their price target on UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Truist Financial upped their price objective on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.28.

UDR Trading Down 0.9 %

Shares of UDR opened at $44.70 on Friday. The stock has a market capitalization of $14.72 billion, a P/E ratio of 32.39, a PEG ratio of 9.86 and a beta of 0.85. UDR, Inc. has a twelve month low of $30.95 and a twelve month high of $47.55. 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 fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $40.56.

UDR (NYSE:UDR) last posted 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 analysts’ expectations of $413.75 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that UDR, Inc. will post 2.47 EPS for the current year.

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.80%. UDR’s dividend payout ratio (DPR) is presently 123.19%.

UDR Company 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.