Envestnet Asset Management Inc. Cuts Stock Position in UDR, Inc. (NYSE:UDR)

Envestnet Asset Management Inc. trimmed its position in shares of UDR, Inc. (NYSE:UDR - Free Report) by 20.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,723 shares of the real estate investment trust's stock after selling 37,263 shares during the period. Envestnet Asset Management Inc.'s holdings in UDR were worth $6,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in UDR by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 81,458 shares of the real estate investment trust's stock worth $3,536,000 after purchasing an additional 2,737 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in UDR in the 4th quarter worth about $7,226,000. Landscape Capital Management L.L.C. lifted its holdings in UDR by 131.7% during the 4th quarter. Landscape Capital Management L.L.C. now owns 17,044 shares of the real estate investment trust's stock valued at $740,000 after buying an additional 9,689 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in UDR in the 4th quarter valued at about $114,000. Finally, Headlands Technologies LLC grew its stake in UDR by 32.9% in the 4th quarter. Headlands Technologies LLC now owns 17,994 shares of the real estate investment trust's stock worth $781,000 after acquiring an additional 4,458 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the transaction, the chief executive officer now owns 824,716 shares of the company's stock, valued at approximately $35,256,609. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial downgraded shares of UDR from a "buy" rating to a "hold" rating and lifted their price target for the company from $45.00 to $46.00 in a research note on Monday, March 10th. StockNews.com upgraded UDR from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada upped their price objective on shares of UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. Wells Fargo & Company cut their target price on shares of UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Finally, Evercore ISI upped their price objective on UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, UDR currently has a consensus rating of "Hold" and a consensus target price of $46.12.

UDR Price Performance

UDR traded down $0.31 during trading on Friday, reaching $41.27. The company's stock had a trading volume of 699,398 shares, compared to its average volume of 2,172,126. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 165.08, a PEG ratio of 8.67 and a beta of 0.78. The firm has a fifty day simple moving average of $42.81 and a two-hundred day simple moving average of $43.15. UDR, Inc. has a 1 year low of $36.61 and a 1 year high of $47.55. 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 released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.17%. This is a positive change from UDR's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR's dividend payout ratio is presently 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.