Legacy Capital Group California Inc. Invests $623,000 in UDR, Inc. (NYSE:UDR)

Legacy Capital Group California Inc. purchased a new stake in shares of UDR, Inc. (NYSE:UDR) during the 3rd quarter, HoldingsChannel reports. The firm purchased 13,731 shares of the real estate investment trust’s stock, valued at approximately $623,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in UDR during the first quarter worth approximately $26,000. Family Firm Inc. purchased a new position in shares of UDR in the 2nd quarter valued at about $26,000. UMB Bank n.a. purchased a new stake in shares of UDR in the 2nd quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new stake in UDR during the 2nd quarter worth about $35,000. Finally, Quest Partners LLC acquired a new position in UDR in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

Shares of UDR opened at $44.51 on Friday. UDR, Inc. has a 52-week low of $30.95 and a 52-week high of $47.55. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 108.56, a PEG ratio of 9.70 and a beta of 0.85. The business’s 50 day moving average is $44.53 and its two-hundred day moving average is $41.31.

UDR (NYSE:UDR) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. Analysts forecast that UDR, Inc. will post 2.47 EPS for the current fiscal year.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, October 10th. UDR’s dividend payout ratio is currently 414.64%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UDR. Scotiabank boosted their price objective on UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Truist Financial increased their price target on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their target price on UDR from $40.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. The Goldman Sachs Group began coverage on UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price objective for the company. Finally, BNP Paribas began coverage on shares of UDR in a research note on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.28.

About UDR

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.