Legacy Capital Group California Inc. Purchases Shares of 13,731 UDR, Inc. (NYSE:UDR)

Legacy Capital Group California Inc. bought a new stake in UDR, Inc. (NYSE:UDR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 13,731 shares of the real estate investment trust's stock, valued at approximately $623,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oak Thistle LLC acquired a new position in UDR in the first quarter valued at about $301,000. Integrity Wealth Solutions LLC boosted its holdings in shares of UDR by 8.2% in the 1st quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 484 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in UDR by 28.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,342,825 shares of the real estate investment trust's stock worth $87,645,000 after acquiring an additional 512,388 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in UDR by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 189,355 shares of the real estate investment trust's stock valued at $7,083,000 after purchasing an additional 551 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in UDR by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 362,917 shares of the real estate investment trust's stock valued at $13,577,000 after purchasing an additional 4,891 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company's stock.

UDR Trading Down 1.4 %

Shares of NYSE:UDR traded down $0.64 during mid-day trading on Friday, reaching $43.87. The stock had a trading volume of 1,104,320 shares, compared to its average volume of 2,503,032. The firm has a market cap of $14.47 billion, a PE ratio of 107.00, a price-to-earnings-growth ratio of 9.70 and a beta of 0.85. The firm has a 50 day simple moving average of $44.63 and a two-hundred day simple moving average of $41.38. The company has a current ratio of 5.82, a quick 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.

UDR (NYSE:UDR - Get Free Report) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $413.75 million. During the same quarter last year, the business posted $0.61 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts predict that UDR, Inc. will post 2.47 EPS for the current fiscal year.

UDR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.425 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.88%. UDR's dividend payout ratio (DPR) is currently 414.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BNP Paribas began coverage on UDR in a report on Wednesday, September 11th. They set an "outperform" rating and a $49.00 target price on the stock. The Goldman Sachs Group started coverage on shares of UDR in a report on Wednesday, September 4th. They set a "sell" rating and a $42.00 price objective on the stock. Wedbush boosted their target price on shares of UDR from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Truist Financial increased their price target on shares of UDR from $44.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.