According to Zacks, “Shares of UDR have outperformed its industry, over the past year. UDR is likely to benefit from its vast experience in the residential real estate market. Its portfolio, located in the targeted U.S. markets, has a superior product-mix. Specifically, favorable demographics, household formation, healthy economy and job-market growth are expected to drive demand for its properties. To capitalize on this trend, UDR is focusing on expansion in strategic markets on the back of acquisitions and developments efforts. It also adheres to disciplined capital allocation. However, escalating deliveries in a number of its markets remain concerns for the company as this curtails landlords’ ability to demand higher rents and increase concessional activities. Further, a significant development pipeline increases the company’s operational risks.”
Other analysts have also issued research reports about the stock. TheStreet lowered shares of UDR from a “b” rating to a “c” rating in a research report on Tuesday, April 30th. Barclays reaffirmed a “hold” rating and issued a $46.00 price objective on shares of UDR in a research report on Tuesday, April 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $49.00 price objective on shares of UDR in a research report on Monday, March 25th. Finally, Goldman Sachs Group lowered shares of UDR from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $43.00 to $39.00 in a research report on Monday, March 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.00.
UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.42). The company had revenue of $270.67 million during the quarter, compared to the consensus estimate of $267.41 million. UDR had a return on equity of 5.38% and a net margin of 13.70%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. Research analysts predict that UDR will post 2.06 earnings per share for the current year.
In other news, CAO Tracy L. Hofmeister sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $44.09, for a total value of $66,135.00. Following the sale, the chief accounting officer now owns 10,295 shares of the company’s stock, valued at $453,906.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Harry G. Alcock sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $45.37, for a total transaction of $453,700.00. Following the completion of the sale, the senior vice president now directly owns 117,284 shares in the company, valued at approximately $5,321,175.08. The disclosure for this sale can be found here. In the last three months, insiders sold 95,789 shares of company stock worth $4,304,611. Insiders own 2.85% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in UDR by 148.7% during the third quarter. JPMorgan Chase & Co. now owns 866,666 shares of the real estate investment trust’s stock valued at $35,040,000 after acquiring an additional 518,161 shares in the last quarter. LPL Financial LLC grew its stake in UDR by 14.1% during the third quarter. LPL Financial LLC now owns 10,259 shares of the real estate investment trust’s stock valued at $415,000 after acquiring an additional 1,266 shares in the last quarter. Man Group plc grew its stake in UDR by 196.4% during the third quarter. Man Group plc now owns 25,623 shares of the real estate investment trust’s stock valued at $1,036,000 after acquiring an additional 16,977 shares in the last quarter. AQR Capital Management LLC grew its stake in UDR by 3.3% during the third quarter. AQR Capital Management LLC now owns 61,701 shares of the real estate investment trust’s stock valued at $2,495,000 after acquiring an additional 1,983 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in UDR by 0.3% during the third quarter. Vanguard Group Inc now owns 43,516,477 shares of the real estate investment trust’s stock valued at $1,759,370,000 after acquiring an additional 135,997 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.
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 properties in targeted U.S.
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