Principal Financial Group Inc. Trims Stock Holdings in UDR, Inc. (NYSE:UDR)

Principal Financial Group Inc. lowered its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351,832 shares of the real estate investment trust's stock after selling 17,338 shares during the quarter. Principal Financial Group Inc. owned 0.11% of UDR worth $15,952,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in UDR by 14.8% during the third quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust's stock valued at $516,923,000 after purchasing an additional 1,471,855 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of UDR by 2.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,109,980 shares of the real estate investment trust's stock valued at $322,366,000 after buying an additional 159,625 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in UDR by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust's stock worth $194,737,000 after buying an additional 103,384 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in UDR by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,272,032 shares of the real estate investment trust's stock worth $193,694,000 after buying an additional 117,213 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust's stock worth $143,990,000 after buying an additional 1,874,096 shares in the last quarter. 97.84% of the stock is owned by institutional investors.

UDR Trading Down 1.1 %

NYSE UDR traded down $0.47 during trading on Friday, hitting $43.41. The company had a trading volume of 929,155 shares, compared to its average volume of 2,419,654. The company's fifty day moving average is $44.25 and its 200-day moving average is $43.28. UDR, Inc. has a one year low of $34.19 and a one year high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 117.33, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87.

UDR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 9th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Thursday, January 9th. UDR's payout ratio is currently 459.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UDR. UBS Group boosted their price objective on shares of UDR from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Barclays assumed coverage on shares of UDR in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $50.00 price target for the company. Scotiabank reduced their price objective on UDR from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on UDR in a research note on Wednesday, September 4th. They issued a "sell" rating and a $42.00 target price for the company. Finally, StockNews.com upgraded UDR from a "sell" rating to a "hold" rating in a research report on Saturday, December 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $46.00.

UDR Company 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.