Sumitomo Mitsui Trust Group Inc. Sells 17,804 Shares of UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui Trust Group Inc. reduced its position in UDR, Inc. (NYSE:UDR - Free Report) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,266,185 shares of the real estate investment trust's stock after selling 17,804 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.69% of UDR worth $102,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC grew its holdings in shares of UDR by 10.0% during the 3rd quarter. CWM LLC now owns 3,802 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 347 shares during the last quarter. Mather Group LLC. increased its holdings in shares of UDR by 58.2% in the third quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust's stock worth $45,000 after buying an additional 367 shares during the period. Truist Financial Corp lifted its stake in shares of UDR by 0.6% in the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust's stock valued at $2,744,000 after acquiring an additional 414 shares during the last quarter. TCV Trust & Wealth Management Inc. boosted its holdings in UDR by 8.2% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust's stock valued at $253,000 after acquiring an additional 424 shares during the period. Finally, Covestor Ltd grew its position in UDR by 18.3% during the 1st quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust's stock worth $125,000 after acquiring an additional 515 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UDR. StockNews.com cut shares of UDR from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. UBS Group increased their target price on shares of UDR from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Piper Sandler upped their price target on UDR from $40.00 to $46.00 and gave the company a "neutral" rating in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on UDR in a research report on Wednesday, September 4th. They issued a "sell" rating and a $42.00 price objective on the stock. Finally, Evercore ISI upped their target price on UDR from $42.00 to $43.00 and gave the company an "in-line" rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, UDR presently has a consensus rating of "Hold" and an average price target of $45.18.

UDR Stock Down 1.0 %

Shares of UDR traded down $0.45 during trading hours on Thursday, hitting $44.74. The company had a trading volume of 524,190 shares, compared to its average volume of 2,501,341. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 121.00, a P/E/G ratio of 12.29 and a beta of 0.85. The firm has a fifty day moving average price of $44.62 and a 200-day moving average price of $42.01. UDR, Inc. has a 52-week low of $32.37 and a 52-week high of $47.55. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.80%. UDR's dividend payout ratio is presently 459.47%.

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.