Morgan Stanley Boosts Stake in UDR, Inc. (UDR)
Morgan Stanley lifted its stake in shares of UDR, Inc. (NYSE:UDR) by 12.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,929,299 shares of the real estate investment trust’s stock after purchasing an additional 212,345 shares during the quarter. Morgan Stanley’s holdings in UDR were worth $72,425,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of UDR by 3.0% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,849 shares of the real estate investment trust’s stock worth $3,260,000 after purchasing an additional 2,566 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of UDR by 8.8% during the second quarter. Canada Pension Plan Investment Board now owns 765,566 shares of the real estate investment trust’s stock worth $28,739,000 after purchasing an additional 62,000 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its holdings in shares of UDR by 66.8% during the second quarter. Redpoint Investment Management Pty Ltd now owns 11,598 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 4,646 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of UDR by 4.9% during the second quarter. Renaissance Technologies LLC now owns 8,358,300 shares of the real estate investment trust’s stock worth $313,771,000 after purchasing an additional 390,700 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of UDR by 125.7% during the second quarter. SG Americas Securities LLC now owns 235,099 shares of the real estate investment trust’s stock worth $8,826,000 after purchasing an additional 130,940 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.
In other news, SVP Harry G. Alcock sold 10,000 shares of UDR stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $40.45, for a total value of $404,500.00. Following the sale, the senior vice president now owns 126,123 shares in the company, valued at $5,101,675.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Warren L. Troupe sold 40,000 shares of UDR stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $39.10, for a total transaction of $1,564,000.00. Following the completion of the sale, the vice president now owns 549,634 shares in the company, valued at approximately $21,490,689.40. The disclosure for this sale can be found here. Insiders sold 104,773 shares of company stock valued at $4,140,829 in the last ninety days. 3.16% of the stock is owned by corporate insiders.
UDR opened at $39.98 on Tuesday. UDR, Inc. has a fifty-two week low of $32.88 and a fifty-two week high of $41.04. The company has a debt-to-equity ratio of 1.38, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 3.45 and a beta of 0.34.
UDR (NYSE:UDR) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. UDR had a net margin of 18.47% and a return on equity of 6.87%. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $253.59 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. equities analysts anticipate that UDR, Inc. will post 1.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th will be issued a $0.3323 dividend. This is a boost from UDR’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.33 dividend on an annualized basis and a yield of 3.32%. UDR’s payout ratio is presently 68.98%.
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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