Norges Bank Makes New $1.27 Billion Investment in UDR, Inc. (NYSE:UDR)

Norges Bank bought a new stake in UDR, Inc. (NYSE:UDR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,335,226 shares of the real estate investment trust's stock, valued at approximately $1,273,442,000. Norges Bank owned 8.89% of UDR at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in shares of UDR by 7.1% in the third quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust's stock valued at $238,000 after buying an additional 350 shares during the last quarter. Quest Partners LLC raised its stake in UDR by 471.5% during the 3rd quarter. Quest Partners LLC now owns 5,206 shares of the real estate investment trust's stock valued at $236,000 after acquiring an additional 4,295 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in UDR by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,082 shares of the real estate investment trust's stock valued at $1,681,000 after acquiring an additional 650 shares during the last quarter. Cerity Partners LLC lifted its position in UDR by 0.6% during the 3rd quarter. Cerity Partners LLC now owns 128,712 shares of the real estate investment trust's stock worth $5,836,000 after acquiring an additional 798 shares during the period. Finally, Algert Global LLC purchased a new position in shares of UDR in the 3rd quarter valued at approximately $442,000. Hedge funds and other institutional investors own 97.84% of the company's stock.

Analysts Set New Price Targets

UDR has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on UDR from $48.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Barclays reduced their target price on shares of UDR from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Scotiabank lifted their target price on shares of UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a report on Friday, February 14th. Jefferies Financial Group downgraded shares of UDR from a "buy" rating to a "hold" rating and reduced their price objective for the company from $50.00 to $45.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada boosted their target price on UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, UDR currently has an average rating of "Hold" and a consensus target price of $46.12.

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Insider Activity

In related news, CEO Thomas W. Toomey sold 25,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 824,716 shares of the company's stock, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.73% of the company's stock.

UDR Price Performance

Shares of NYSE:UDR traded up $0.47 during midday trading on Monday, hitting $45.01. 430,236 shares of the stock were exchanged, compared to its average volume of 2,171,777. The stock has a market cap of $14.91 billion, a P/E ratio of 180.00, a PEG ratio of 8.67 and a beta of 0.88. UDR, Inc. has a twelve month low of $35.14 and a twelve month high of $47.55. The company has a 50 day moving average price of $43.06 and a 200-day moving average price of $43.75. 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 (NYSE:UDR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, research analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The business also recently declared 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from UDR's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR's payout ratio is 688.00%.

UDR Profile

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.