Panagora Asset Management Inc. Has $981,000 Stock Holdings in UDR, Inc. (NYSE:UDR)

Panagora Asset Management Inc. raised its stake in UDR, Inc. (NYSE:UDR) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 25,632 shares of the real estate investment trust’s stock after acquiring an additional 2,187 shares during the quarter. Panagora Asset Management Inc.’s holdings in UDR were worth $981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG grew its holdings in UDR by 35.9% during the third quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust’s stock worth $180,722,000 after purchasing an additional 1,339,276 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of UDR during the third quarter worth approximately $45,428,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in UDR by 79.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock valued at $70,087,000 after purchasing an additional 809,273 shares during the period. PGGM Investments grew its holdings in UDR by 44.9% in the 4th quarter. PGGM Investments now owns 2,324,664 shares of the real estate investment trust’s stock valued at $89,011,000 after buying an additional 720,423 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in UDR by 232.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 736,386 shares of the real estate investment trust’s stock worth $26,267,000 after buying an additional 515,180 shares during the period. 97.84% of the stock is owned by institutional investors.

UDR Stock Down 0.2 %

Shares of NYSE UDR opened at $39.61 on Thursday. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 8.78 and a beta of 0.79. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $44.02. The stock has a 50-day moving average price of $37.59 and a two-hundred day moving average price of $36.55.

UDR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.29%. This is a boost from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, April 9th. UDR’s dividend payout ratio is currently 123.19%.

Insider Buying and Selling

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UDR has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price target on the stock. Morgan Stanley raised their target price on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. UBS Group upgraded shares of UDR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $44.00 in a research report on Thursday, April 25th. Truist Financial reduced their price target on UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, Mizuho dropped their price objective on UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, UDR presently has an average rating of “Hold” and an average target price of $40.35.

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.