Legal & General Group Plc cut its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,165,057 shares of the real estate investment trust's stock after selling 600,029 shares during the quarter. Legal & General Group Plc owned approximately 0.96% of UDR worth $137,395,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of UDR in the fourth quarter worth about $1,273,442,000. Invesco Ltd. lifted its stake in UDR by 92.0% in the 4th quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock worth $327,104,000 after purchasing an additional 3,609,925 shares in the last quarter. FMR LLC boosted its holdings in UDR by 10.5% in the 4th quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock valued at $546,639,000 after purchasing an additional 1,191,432 shares during the period. Prudential Financial Inc. grew its position in shares of UDR by 24.2% during the 4th quarter. Prudential Financial Inc. now owns 2,989,563 shares of the real estate investment trust's stock valued at $129,777,000 after purchasing an additional 583,126 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of UDR in the fourth quarter worth $22,662,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Mizuho dropped their target price on shares of UDR from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Royal Bank of Canada upped their target price on shares of UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Scotiabank raised their price target on UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a research report on Friday, February 14th. StockNews.com upgraded UDR from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Zelman & Associates restated a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.12.
Check Out Our Latest Report on UDR
Insiders Place Their Bets
In related news, CEO Thomas W. Toomey sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the transaction, the chief executive officer now owns 824,716 shares in the company, valued at $35,256,609. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.73% of the stock is owned by company insiders.
UDR Trading Up 1.4 %
Shares of UDR stock traded up $0.56 on Wednesday, reaching $41.63. The company had a trading volume of 301,813 shares, compared to its average volume of 2,176,968. The firm's 50-day moving average price is $43.03 and its two-hundred day moving average price is $43.31. UDR, Inc. has a 1 year low of $35.14 and a 1 year high of $47.55. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 166.50, a P/E/G ratio of 8.67 and a beta of 0.78. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91.
UDR (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS 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%. As a group, research analysts predict 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. Investors of record on Thursday, April 10th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.13%. This is a positive change from UDR's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR's dividend payout ratio (DPR) is presently 688.00%.
UDR Company Profile
(
Free Report)
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.
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