Invesco Ltd. Boosts Holdings in UDR, Inc. (NYSE:UDR)

Invesco Ltd. grew its holdings in UDR, Inc. (NYSE:UDR - Free Report) by 92.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,535,234 shares of the real estate investment trust's stock after purchasing an additional 3,609,925 shares during the period. Invesco Ltd. owned about 2.28% of UDR worth $327,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of Montreal Can lifted its holdings in UDR by 12.9% during the 4th quarter. Bank of Montreal Can now owns 500,465 shares of the real estate investment trust's stock valued at $21,725,000 after buying an additional 57,231 shares in the last quarter. FMR LLC raised its stake in shares of UDR by 10.5% during the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock valued at $546,639,000 after acquiring an additional 1,191,432 shares in the last quarter. Unigestion Holding SA boosted its holdings in shares of UDR by 48.5% in the fourth quarter. Unigestion Holding SA now owns 17,474 shares of the real estate investment trust's stock valued at $759,000 after purchasing an additional 5,709 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of UDR in the fourth quarter valued at approximately $550,000. Finally, Wells Fargo & Company MN grew its stake in UDR by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 81,458 shares of the real estate investment trust's stock worth $3,536,000 after purchasing an additional 2,737 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UDR. Barclays lowered their target price on UDR from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Zelman & Associates reiterated a "neutral" rating on shares of UDR in a report on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Truist Financial downgraded shares of UDR from a "buy" rating to a "hold" rating and increased their price objective for the company from $45.00 to $46.00 in a research note on Monday, March 10th. Finally, Evercore ISI upped their target price on UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.12.

UDR Stock Performance

Shares of NYSE UDR traded up $0.19 during midday trading on Tuesday, reaching $40.98. The company had a trading volume of 344,371 shares, compared to its average volume of 2,178,380. The stock has a market cap of $13.57 billion, a P/E ratio of 163.92, a P/E/G ratio of 8.67 and a beta of 0.78. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. UDR, Inc. has a 1 year low of $35.14 and a 1 year high of $47.55. The business's 50-day simple moving average is $43.07 and its 200 day simple moving average is $43.33.

UDR (NYSE:UDR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. On average, analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a $0.43 dividend. This is an increase from UDR's previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, April 10th. UDR's dividend payout ratio is 688.00%.

Insider Transactions at UDR

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total value of $1,068,750.00. Following the sale, the chief executive officer now directly owns 824,716 shares of the company's stock, valued at approximately $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.73% of the company's stock.

About UDR

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.