Mitsubishi UFJ Kokusai Asset Management Co. Ltd. has increased its position in UDR Inc. (NYE:UDR) by 10.6% during the fourth quarter, according to a disclosure filed with the Securities & Exchange Commission. The company now owns 387,113 shares of the real estate investment trust’s stock, worth $14,939,000. Other institutional investors and hedge funds have also recently added to or reduced their stakes in UDR, with hedge funds and other institutional investors owning 92.09% of the company’s stock. Shares of UDR opened at $41.22 on Tuesday, with a market cap of $13.57 billion, a P/E ratio of 137.40, and a beta of 0.76. UDR had a net margin of 6.68% and a return on equity of 2.94% for the previous quarter, with a predicted earnings per share of 2.49 for the current year.
UDR’s Performance and Future Outlook
UDR has been facing challenges in the past year due to the pandemic-induced recession, which led to a slowdown in the rental market. However, the company has reported strong revenue growth in its most recent earnings report, indicating a potential recovery in the market. UDR’s CEO, Tom Toomey, stated that they are optimistic about the recovery in the rental market and the company’s future growth prospects. UDR’s portfolio consists primarily of multifamily apartments located in the high-growth markets of the United States. The company has been investing in strategic initiatives to improve its portfolio’s overall quality, including upgrading amenities and enhancing the digital experience for its residents. UDR’s focus on high-growth markets, along with its proactive initiatives, suggests that the company may have a bright future ahead.
UDR Stock Analysis & Forecast
According to 18 analysts, the average analyst target price for UDR Inc over the next 12 months is USD 44.55, with an average analyst rating of Buy. However, Stock Target Advisor’s stock analysis for UDR Inc is Slightly Bearish, based on 5 positive signals and 10 negative signals. The last closing stock price for UDR Inc was USD 41.22, with a change of +0.15% over the past week and +0.39% over the past month. However, UDR Inc’s stock price has experienced a significant decline of -22.53% over the last year, likely due to the pandemic-induced slowdown in the rental market.
Business Profile
UDR, Inc. (NYSE: UDR) is a prominent multifamily Real Estate Investment Trust (REIT) that has been listed on the S&P 500. The company has a proven track record of providing exceptional returns by effectively managing, acquiring, developing, and redeveloping attractive real estate communities in targeted US markets. UDR owned or had an ownership position in 58,390 apartment homes, including 554 homes under development, as of December 31, 2022. The company has been committed to delivering long-term value to shareholders, providing the best possible standard of service to residents, and offering a top-quality experience to its associates for over five decades.
