Employees Retirement System of Texas Reduces Holdings in UDR, Inc. (NYSE:UDR)

Employees Retirement System of Texas lessened its holdings in UDR, Inc. (NYSE:UDR - Free Report) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,000 shares of the real estate investment trust's stock after selling 15,513 shares during the quarter. Employees Retirement System of Texas' holdings in UDR were worth $5,122,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its holdings in shares of UDR by 7.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,772 shares of the real estate investment trust's stock valued at $25,515,000 after acquiring an additional 42,926 shares during the last quarter. Principal Financial Group Inc. increased its stake in UDR by 45.7% in the fourth quarter. Principal Financial Group Inc. now owns 512,540 shares of the real estate investment trust's stock valued at $22,249,000 after purchasing an additional 160,708 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in UDR by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust's stock worth $352,498,000 after purchasing an additional 368,087 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in UDR by 7.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,344 shares of the real estate investment trust's stock worth $4,139,000 after purchasing an additional 6,217 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 buying an additional 95,022 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Scotiabank lifted their price target on shares of UDR from $48.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Friday, February 14th. Wells Fargo & Company reduced their target price on UDR from $48.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Jefferies Financial Group cut 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 lowered UDR from a "buy" rating to a "hold" rating and lifted their price target for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Finally, Zelman & Associates reissued a "neutral" rating on shares of UDR in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $46.12.

Insiders Place Their Bets

In other news, CEO Thomas W. Toomey sold 25,000 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 in the company, valued at $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.73% of the stock is owned by company insiders.

UDR Price Performance

NYSE:UDR traded up $0.03 during trading hours on Friday, hitting $39.44. The company's stock had a trading volume of 2,963,546 shares, compared to its average volume of 2,185,756. The company has a market capitalization of $13.06 billion, a PE ratio of 157.75, a PEG ratio of 8.67 and a beta of 0.78. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55. The business's 50-day moving average is $43.10 and its two-hundred day moving average is $43.36. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61.

UDR (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 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%. As a group, research analysts anticipate that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from UDR's previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 4.36%. UDR's payout ratio is currently 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.