Norges Bank Investment Management has recently announced that it has increased stake in UDR Inc (NYSE:UDR) by 5.36%. After grabbing 23.59 million shares, the institutional investor is now in possession of 1.2 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 7.17% having worth around $903.22 million. Moreover, BlackRock Fund Advisors increased its share by 79307.0 to have a control over 21.58 million shares. And Geode Capital Management LLC raised its holdings to 28858.0 shares by acquiring 7.21 million shares or 2.19% of the stake.
UDR Inc (UDR) concluded trading on Wednesday at a closing price of $36.71, with 3.46 million shares of worth about $127.01 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.99% during that period and On Wednesday, January 24 the price saw a loss of about -2.08%. Currently the company’s common shares owned by public are about 328.99M shares, out of which, 327.33M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 4,432 shares in 2 of the transactions. In 8 selling transactions, insiders dumped 49,389 shares.
Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in UDR Inc Government Pension Fund – Global is currently holding 23.51 million shares of worth totaling $900.29 million. The company recently came buying 5.45 million shares which brought its stake up to 7.15% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 65255.0 shares, after which its hold over company’s outstanding shares shrunk to 3.84%, leaving 12.63 million shares with the mutual fund that have a worth of about $483.5 million. Vanguard Total Stock Market ETF, after buying 10.31 million shares, have now control over 3.13% of the stake in the company. It holds 7498.0 shares of worth $394.64 million.
However, the stock later moved at a day high price of 37.80, or with a loss of -2.08%. Stock saw a price change of -2.08% in past 5 days and over the past one month there was a price change of -1.53%. Year-to-date (YTD), UDR shares are showing a performance of -4.13% which decreased to -7.70% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.95 but also hit the highest price of $45.28 during that period. The average intraday trading volume for UDR Inc shares is 3.16 million. The stock is currently trading -3.52% below its 20-day simple moving average (SMA20), while that difference is up 2.05% for SMA50 and it goes to -4.54% lower than SMA200.
Norges Bank Investment Management acquired 23.59 million shares of UDR Inc having value of about $903.22 million. Data submitted at the U.S SEC by Norges Bank Investment Management revealed that the firm now holds 1.2 million shares in the company valued at close to $44085369.39, or have control over 5.36% stake in the company. UDR Inc (NYSE: UDR) currently have 328.99M outstanding shares and institutions hold larger chunk of about 98.56% of that. Holding of mutual funds in the company is about 35.53% while other institutional holders and individual stake holders have control over 64.04% and 2.47% of the stake respectively.
The stock has a current market capitalization of $12.08B and its 3Y-monthly beta is at 0.80. PE ratio of stock for trailing 12 months is 26.89, while it has posted earnings per share of $1.36 in the same period. It has a debt-to-equity ratio of 1.43. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for UDR, volatility over the week remained 2.10% while standing at 1.98% over the month.
Analysts are in expectations that UDR Inc (UDR) stock would likely to be making an EPS of $0.11 in the current quarter, while forecast for next quarter EPS is $0.1 and it is $0.41 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.07 which is $0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 407.34% while it is estimated to decrease by -67.54% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on November 07, 2023 offering an Equal weight rating for the stock and assigned a target price range of between $42.50 and $34 to it.
