Texas Permanent School Fund Grows Stake in UDR, Inc. (NYSE:UDR)

Texas Permanent School Fund lifted its stake in shares of UDR, Inc. (NYSE:UDR – Get Rating) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,216 shares of the real estate investment trust’s stock after purchasing an additional 3,788 shares during the period. Texas Permanent School Fund’s holdings in UDR were worth $1,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock worth $2,904,527,000 after acquiring an additional 2,353,851 shares during the last quarter. State Street Corp boosted its position in UDR by 11.3% during the first quarter. State Street Corp now owns 20,573,811 shares of the real estate investment trust’s stock worth $1,180,320,000 after acquiring an additional 2,084,674 shares during the last quarter. JPMorgan Chase & Co. boosted its position in UDR by 31.6% during the second quarter. JPMorgan Chase & Co. now owns 8,059,929 shares of the real estate investment trust’s stock worth $371,080,000 after acquiring an additional 1,933,584 shares during the last quarter. FMR LLC boosted its position in UDR by 8.3% during the second quarter. FMR LLC now owns 10,616,907 shares of the real estate investment trust’s stock worth $488,802,000 after acquiring an additional 816,291 shares during the last quarter. Finally, Natixis boosted its position in UDR by 251.5% during the second quarter. Natixis now owns 810,145 shares of the real estate investment trust’s stock worth $37,299,000 after acquiring an additional 579,682 shares during the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $40.44, for a total transaction of $808,800.00. Following the sale, the chief executive officer now directly owns 984,716 shares of the company’s stock, valued at approximately $39,821,915.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on UDR shares. StockNews.com initiated coverage on shares of UDR in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Royal Bank of Canada decreased their target price on shares of UDR from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Friday, October 28th. The Goldman Sachs Group decreased their target price on shares of UDR from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Jefferies Financial Group decreased their target price on shares of UDR from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. Finally, Morgan Stanley upgraded shares of UDR from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $49.00 to $47.00 in a report on Friday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, UDR currently has a consensus rating of “Hold” and a consensus target price of $47.80.

UDR Price Performance

Shares of UDR opened at $38.59 on Wednesday. UDR, Inc. has a fifty-two week low of $37.18 and a fifty-two week high of $60.01. The firm’s 50 day moving average price is $39.38 and its 200 day moving average price is $42.62. The company has a market cap of $12.56 billion, a P/E ratio of 78.76, a PEG ratio of 2.00 and a beta of 0.73. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Monday, January 9th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, January 6th. UDR’s payout ratio is currently 310.20%.

UDR Company Profile

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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.