Bank of America Corp DE Trims Stake in UDR, Inc. (NYSE:UDR)

Bank of America Corp DE decreased its stake in shares of UDR, Inc. (NYSE:UDR) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 578,611 shares of the real estate investment trust’s stock after selling 457,974 shares during the period. Bank of America Corp DE’s holdings in UDR were worth $25,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of UDR by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock valued at $352,498,000 after acquiring an additional 368,087 shares during the last quarter. Avanza Fonder AB purchased a new position in UDR in the 4th quarter valued at about $1,211,000. Aurora Investment Managers LLC. boosted its stake in shares of UDR by 5.5% during the 4th quarter. Aurora Investment Managers LLC. now owns 91,068 shares of the real estate investment trust’s stock worth $3,953,000 after purchasing an additional 4,765 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of UDR by 15.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 265,167 shares of the real estate investment trust’s stock worth $11,511,000 after purchasing an additional 35,479 shares during the last quarter. Finally, Baker Ellis Asset Management LLC grew its holdings in shares of UDR by 77.4% during the fourth quarter. Baker Ellis Asset Management LLC now owns 8,020 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the transaction, the chief executive officer now directly owns 824,716 shares of the company’s stock, valued at $35,256,609. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.39% of the stock is owned by corporate insiders.

UDR Stock Performance

NYSE UDR opened at $42.43 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. UDR, Inc. has a 1-year low of $36.61 and a 1-year high of $47.55. The firm has a market capitalization of $14.06 billion, a P/E ratio of 169.72, a P/E/G ratio of 8.67 and a beta of 0.84. The business’s 50-day simple moving average is $42.21 and its 200-day simple moving average is $42.93.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. UDR had a net margin of 5.36% and a return on equity of 2.65%. UDR’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. Equities analysts predict that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were issued a dividend of $0.43 per share. This is a positive change from UDR’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, April 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.05%. UDR’s payout ratio is presently 491.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UDR. Wells Fargo & Company reduced their price objective on shares of UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Barclays increased their price target on UDR from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Finally, Zelman & Associates reiterated a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UDR currently has an average rating of “Hold” and a consensus target price of $46.69.

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.