Ferguson Wellman Capital Management Inc. Reduces Stock Position in UDR, Inc. (NYSE:UDR)
Ferguson Wellman Capital Management Inc. lowered its stake in UDR, Inc. (NYSE:UDR) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,726 shares of the real estate investment trust’s stock after selling 290 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in UDR were worth $257,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Comerica Securities Inc. bought a new position in shares of UDR during the fourth quarter valued at about $236,000. Raymond James & Associates raised its stake in shares of UDR by 3.8% during the fourth quarter. Raymond James & Associates now owns 27,405 shares of the real estate investment trust’s stock valued at $1,086,000 after acquiring an additional 1,000 shares during the last quarter. Advisor Group Inc. raised its stake in shares of UDR by 20.5% during the fourth quarter. Advisor Group Inc. now owns 4,099 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 697 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of UDR by 11.2% during the fourth quarter. Geode Capital Management LLC now owns 4,572,291 shares of the real estate investment trust’s stock valued at $180,909,000 after acquiring an additional 458,784 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in UDR by 1.1% in the fourth quarter. Principal Financial Group Inc. now owns 490,185 shares of the real estate investment trust’s stock worth $19,421,000 after buying an additional 5,523 shares in the last quarter. Institutional investors own 97.71% of the company’s stock.
A number of equities analysts recently issued reports on UDR shares. Barclays set a €45.00 ($52.33) price target on shares of Zalando and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, TheStreet downgraded shares of UDR from a “b” rating to a “c” rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. UDR has a consensus rating of “Hold” and an average target price of $44.20.
UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.42). The business had revenue of $270.67 million during the quarter, compared to analysts’ expectations of $267.41 million. UDR had a return on equity of 5.38% and a net margin of 13.70%. UDR’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. Analysts forecast that UDR, Inc. will post 2.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a $0.343 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, July 9th. UDR’s dividend payout ratio (DPR) is presently 69.90%.
In other UDR news, CAO Tracy L. Hofmeister sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $453,906.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Warren L. Troupe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.61, for a total transaction of $233,050.00. Following the completion of the sale, the vice president now owns 490,761 shares in the company, valued at approximately $22,874,370.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,750 shares of company stock worth $1,787,118. Corporate insiders own 2.85% of the company’s stock.
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 properties in targeted U.S.
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