Principal Financial Group Inc. Sells 17,338 Shares of UDR, Inc. (NYSE:UDR)

Principal Financial Group Inc. decreased its position in shares of UDR, Inc. (NYSE:UDR - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 351,832 shares of the real estate investment trust's stock after selling 17,338 shares during the period. Principal Financial Group Inc. owned 0.11% of UDR worth $15,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in UDR in the 2nd quarter valued at $26,000. UMB Bank n.a. acquired a new position in UDR in the 2nd quarter valued at about $33,000. Rothschild Investment LLC acquired a new position in UDR in the 2nd quarter valued at about $35,000. Quest Partners LLC purchased a new stake in UDR during the 2nd quarter valued at approximately $37,000. Finally, International Assets Investment Management LLC acquired a new stake in UDR during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 97.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on UDR shares. UBS Group boosted their target price on shares of UDR from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Royal Bank of Canada decreased their price objective on shares of UDR from $46.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, November 5th. StockNews.com downgraded UDR from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on UDR from $41.00 to $48.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of UDR from $43.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $45.18.

UDR Price Performance

UDR stock traded down $0.24 during trading on Friday, reaching $44.31. 3,211,598 shares of the company were exchanged, compared to its average volume of 2,512,087. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 119.76, a P/E/G ratio of 12.55 and a beta of 0.85. UDR, Inc. has a twelve month low of $32.37 and a twelve month high of $47.55. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. The company has a 50-day moving average of $44.63 and a two-hundred day moving average of $42.07.

UDR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, October 10th. UDR's payout ratio is currently 459.46%.

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.