UDR Inc. (UDR) Shares Gap Up to $35.25
UDR Inc. (NYSE:UDR) gapped up before the market opened on Tuesday . The stock had previously closed at $35.22, but opened at $35.25. UDR shares last traded at $35.46, with a volume of 497,255 shares.
Several research firms have recently weighed in on UDR. Citigroup Inc. increased their price objective on shares of UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of UDR from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Mizuho upgraded shares of UDR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $41.00 in a research report on Monday, August 1st. Cantor Fitzgerald restated a “buy” rating and issued a $39.50 price target on shares of UDR in a report on Monday, July 18th. Finally, BTIG Research began coverage on shares of UDR in a report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. UDR presently has an average rating of “Hold” and a consensus price target of $38.71.
The firm’s 50-day moving average price is $36.12 and its 200-day moving average price is $36.24. The stock has a market cap of $9.46 billion, a P/E ratio of 45.48 and a beta of 0.69.
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UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. UDR had a net margin of 21.86% and a return on equity of 7.15%. The business earned $238.79 million during the quarter, compared to analyst estimates of $235.77 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that UDR Inc. will post $1.78 EPS for the current fiscal year.
In related news, Director Clinton D. Mcdonnough acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was acquired at an average cost of $35.65 per share, with a total value of $71,300.00. Following the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $142,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Clinton D. Mcdonnough acquired 3,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $34.54 per share, with a total value of $103,620.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $241,780. The disclosure for this purchase can be found here. Company insiders own 2.79% of the company’s stock.
A number of large investors have recently made changes to their positions in UDR. Global X Management Co. LLC raised its position in UDR by 198.4% in the second quarter. Global X Management Co. LLC now owns 5,133 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 3,413 shares during the period. Conning Inc. acquired a new position in UDR during the second quarter worth $207,000. Norinchukin Bank The raised its position in UDR by 4.7% in the second quarter. Norinchukin Bank The now owns 5,859 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 262 shares during the period. Tredje AP fonden raised its position in UDR by 746.4% in the second quarter. Tredje AP fonden now owns 5,840 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 5,150 shares during the period. Finally, Pacer Advisors Inc. raised its position in UDR by 12.4% in the second quarter. Pacer Advisors Inc. now owns 5,876 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 646 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.
UDR Company Profile
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.
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