Thrivent Financial for Lutherans Sells 13,184 Shares of UDR, Inc. (NYSE:UDR)

Thrivent Financial for Lutherans reduced its stake in shares of UDR, Inc. (NYSE:UDR) by 3.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 378,627 shares of the real estate investment trust’s stock after selling 13,184 shares during the period. Thrivent Financial for Lutherans’ holdings in UDR were worth $15,580,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in UDR by 4.6% in the second quarter. Sei Investments Co. now owns 1,746,756 shares of the real estate investment trust’s stock worth $71,879,000 after purchasing an additional 76,161 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of UDR by 4.8% during the second quarter. Pacer Advisors Inc. now owns 21,589 shares of the real estate investment trust’s stock valued at $888,000 after buying an additional 986 shares during the period. Canada Pension Plan Investment Board increased its position in shares of UDR by 2.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,982,797 shares of the real estate investment trust’s stock valued at $122,742,000 after buying an additional 76,500 shares during the period. Intech Investment Management LLC boosted its stake in UDR by 86.8% during the second quarter. Intech Investment Management LLC now owns 10,620 shares of the real estate investment trust’s stock worth $437,000 after acquiring an additional 4,935 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in UDR during the second quarter worth about $1,447,000. 97.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UDR shares. Mizuho upped their target price on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. BMO Capital Markets upgraded shares of UDR from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $39.00 to $45.00 in a research note on Monday, July 15th. Piper Sandler upped their target price on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. BNP Paribas initiated coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. 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 company presently has a consensus rating of “Hold” and a consensus target price of $44.28.

UDR Stock Performance

Shares of NYSE UDR opened at $46.02 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. The company has a market cap of $15.15 billion, a P/E ratio of 33.35, a P/E/G ratio of 10.30 and a beta of 0.85. The firm’s fifty day moving average is $43.15 and its two-hundred day moving average is $40.22. UDR, Inc. has a 52-week low of $30.95 and a 52-week high of $47.55.

UDR (NYSE:UDR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The company had revenue of $415.30 million during the quarter, compared to the consensus estimate of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. As a group, analysts anticipate that UDR, Inc. will post 2.46 EPS for the current fiscal year.

UDR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.425 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.69%. UDR’s payout ratio is currently 123.19%.

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.