Mackenzie Financial Corp Decreases Stake in UDR, Inc. (NYSE:UDR)

Mackenzie Financial Corp decreased its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 53.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,878 shares of the real estate investment trust's stock after selling 14,997 shares during the period. Mackenzie Financial Corp's holdings in UDR were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of UDR in the 2nd quarter valued at approximately $26,000. Fidelis Capital Partners LLC purchased a new position in shares of UDR during the 1st quarter worth about $26,000. UMB Bank n.a. bought a new position in UDR during the 2nd quarter valued at about $33,000. Rothschild Investment LLC bought a new stake in UDR in the second quarter worth about $35,000. Finally, Quest Partners LLC bought a new position in shares of UDR during the second quarter valued at approximately $37,000. Institutional investors own 97.84% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on UDR. BMO Capital Markets raised UDR from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $39.00 to $45.00 in a research report on Monday, July 15th. Scotiabank lifted their price objective on shares of UDR from $45.00 to $49.00 and gave the company a "sector perform" rating in a report on Monday, September 16th. Royal Bank of Canada reduced their target price on shares of UDR from $41.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 1st. BNP Paribas initiated coverage on UDR in a report on Wednesday, September 11th. They issued an "outperform" rating and a $49.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a "hold" rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, UDR has a consensus rating of "Hold" and a consensus price target of $44.28.

UDR Stock Performance

UDR stock traded down $0.11 during midday trading on Friday, hitting $44.59. 1,342,414 shares of the stock traded hands, compared to its average volume of 2,574,378. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $47.55. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. The stock's fifty day simple moving average is $43.71 and its 200-day simple moving average is $40.67. The firm has a market cap of $14.71 billion, a P/E ratio of 32.31, a PEG ratio of 9.89 and a beta of 0.85.

UDR (NYSE:UDR - Get Free Report) last released its quarterly 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). The business had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. On average, analysts expect that UDR, Inc. will post 2.47 earnings per share for the current year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, October 10th. UDR's payout ratio is 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.