California Public Employees Retirement System Cuts Holdings in UDR, Inc. (NYSE:UDR)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System lowered its position in UDR, Inc. (NYSE:UDR – Get Rating) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 707,116 shares of the real estate investment trust’s stock after selling 20,199 shares during the period. California Public Employees Retirement System owned approximately 0.22% of UDR worth $27,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC lifted its position in UDR by 10,083.3% during the third quarter. Addison Advisors LLC now owns 611 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 605 shares during the period. CVA Family Office LLC raised its position in shares of UDR by 71.7% during the 3rd quarter. CVA Family Office LLC now owns 850 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 355 shares during the last quarter. Romano Brothers AND Company acquired a new position in shares of UDR during the 4th quarter worth about $43,000. Signaturefd LLC grew its stake in UDR by 48.6% during the 4th quarter. Signaturefd LLC now owns 1,128 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 369 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of UDR in the 3rd quarter valued at approximately $73,000. Institutional investors own 92.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UDR. StockNews.com began coverage on shares of UDR in a research report on Thursday, March 16th. They set a “hold” rating for the company. Mizuho raised their price objective on shares of UDR from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Wells Fargo & Company assumed coverage on shares of UDR in a research note on Wednesday, March 29th. They issued an “overweight” rating and a $44.50 price objective for the company. Barclays boosted their price objective on shares of UDR from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Finally, Robert W. Baird boosted their target price on shares of UDR from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.66.

UDR Stock Performance

Shares of UDR opened at $41.16 on Thursday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $13.55 billion, a P/E ratio of 137.20, a P/E/G ratio of 2.13 and a beta of 0.76. The firm’s 50 day moving average is $40.57 and its 200-day moving average is $40.60. UDR, Inc. has a 12-month low of $37.18 and a 12-month high of $50.65.

UDR (NYSE:UDR – Get Rating) last released its quarterly earnings results on Monday, February 6th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.48). UDR had a net margin of 6.68% and a return on equity of 2.94%. The firm had revenue of $399.70 million during the quarter, compared to the consensus estimate of $399.16 million. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that UDR, Inc. will post 2.49 EPS for the current fiscal year.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 10th were given a dividend of $0.42 per share. This is a positive change from UDR’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, April 6th. UDR’s payout ratio is 560.02%.

About UDR

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UDR, Inc is a real estate investment trust, which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. The firm operates through the Same-Store Communities and Non-Mature Communities/Other segments.