Resona Asset Management Co. Ltd. Invests $7.23 Million in UDR, Inc. (NYSE:UDR)

Resona Asset Management Co. Ltd. bought a new position in shares of UDR, Inc. (NYSE:UDR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 166,465 shares of the real estate investment trust's stock, valued at approximately $7,226,000. Resona Asset Management Co. Ltd. owned about 0.05% of UDR at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of UDR by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust's stock valued at $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. Norges Bank bought a new stake in shares of UDR during the 4th quarter worth about $1,273,442,000. Geode Capital Management LLC grew its stake in UDR by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,924,151 shares of the real estate investment trust's stock valued at $343,129,000 after buying an additional 220,293 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in UDR by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust's stock valued at $352,498,000 after acquiring an additional 368,087 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in UDR by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust's stock valued at $189,574,000 after acquiring an additional 95,022 shares during the period. Institutional investors own 97.84% of the company's stock.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer now directly owns 824,716 shares in the company, valued at approximately $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UDR shares. Jefferies Financial Group downgraded UDR from a "buy" rating to a "hold" rating and decreased their target price for the company from $50.00 to $45.00 in a research report on Thursday, January 2nd. Truist Financial cut UDR from a "buy" rating to a "hold" rating and increased their price objective for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Scotiabank boosted their target price on shares of UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a research report on Friday, February 14th. Evercore ISI upped their price target on shares of UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Finally, Barclays dropped their price objective 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, UDR currently has a consensus rating of "Hold" and a consensus price target of $46.12.

UDR Stock Up 0.1 %

UDR stock traded up $0.03 during mid-day trading on Friday, reaching $39.44. 2,963,546 shares of the company traded hands, compared to its average volume of 2,185,756. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of 157.75, a P/E/G ratio of 8.67 and a beta of 0.78. UDR, Inc. has a fifty-two week low of $35.14 and a fifty-two week high of $47.55. The firm's 50 day moving average price is $43.10 and its 200 day moving average price is $43.36. The company has a quick ratio of 5.91, a current ratio of 5.61 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, topping 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, equities research analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.43 per share. This is a positive change from UDR's previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Thursday, April 10th. UDR's dividend payout ratio (DPR) is presently 688.00%.

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.