Toronto Dominion Bank Increases Position in UDR, Inc. (NYSE:UDR)

Toronto Dominion Bank increased its stake in shares of UDR, Inc. (NYSE:UDR) by 8.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 162,338 shares of the real estate investment trust’s stock after buying an additional 12,512 shares during the quarter. Toronto Dominion Bank’s holdings in UDR were worth $7,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in UDR. Smartleaf Asset Management LLC grew its holdings in shares of UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 491 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of UDR by 38.0% during the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 351 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in UDR during the fourth quarter valued at $63,000. Crews Bank & Trust acquired a new position in UDR during the fourth quarter valued at $76,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in UDR during the fourth quarter valued at $87,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zelman & Associates restated a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. Scotiabank boosted their target price on shares of UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Wall Street Zen upgraded shares of UDR from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial downgraded shares of UDR from a “buy” rating to a “hold” rating and boosted their target price for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Finally, Mizuho decreased their target price on shares of UDR from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.44.

UDR Trading Up 1.4%

Shares of UDR stock opened at $41.27 on Friday. The firm has a 50-day simple moving average of $41.71 and a two-hundred day simple moving average of $42.78. The company has a market cap of $13.67 billion, a P/E ratio of 165.08, a price-to-earnings-growth ratio of 8.67 and a beta of 0.84. UDR, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61.

UDR (NYSE:UDR) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $419.84 million during the quarter, compared to analysts’ expectations of $421.23 million. UDR had a net margin of 5.36% and a return on equity of 2.65%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, equities analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from UDR’s previous quarterly dividend of $0.43. UDR’s payout ratio is currently 491.43%.

UDR 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 communities in targeted U.S.