State of Tennessee Treasury Department Increases Stock Position in UDR, Inc. (NYSE:UDR)

State of Tennessee Treasury Department boosted its stake in shares of UDR, Inc. (NYSE:UDRFree Report) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 578,850 shares of the real estate investment trust’s stock after acquiring an additional 3,865 shares during the quarter. State of Tennessee Treasury Department’s holdings in UDR were worth $22,164,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in UDR during the fourth quarter worth about $1,065,482,000. FMR LLC grew its holdings in shares of UDR by 3.4% in the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock valued at $430,929,000 after purchasing an additional 394,581 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after purchasing an additional 2,145,242 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of UDR by 7.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust’s stock valued at $233,878,000 after purchasing an additional 403,377 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of UDR by 35.9% in the third quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust’s stock valued at $180,722,000 after purchasing an additional 1,339,276 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UDR. Truist Financial dropped their price objective on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. UBS Group upgraded shares of UDR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $44.00 in a research note on Thursday, April 25th. Morgan Stanley boosted their price objective on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group started coverage on shares of UDR in a research report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Mizuho boosted their price objective on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and an average target price of $40.65.

Check Out Our Latest Stock Report on UDR

UDR Stock Performance

Shares of UDR opened at $39.83 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. The stock has a market capitalization of $13.12 billion, a P/E ratio of 28.86, a P/E/G ratio of 8.77 and a beta of 0.81. The company’s fifty day moving average is $38.09 and its two-hundred day moving average is $37.13. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $44.02.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were paid a $0.425 dividend. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.27%. The ex-dividend date was Tuesday, April 9th. UDR’s payout ratio is currently 123.19%.

Insider Buying and Selling at UDR

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the transaction, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction dated 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 directly owns 8,566 shares in the company, valued at approximately $326,964.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas W. Toomey sold 90,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the sale, the chief executive officer now owns 849,716 shares in the company, valued at $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by corporate insiders.

About UDR

(Free Report)

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.

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Want to see what other hedge funds are holding UDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UDR, Inc. (NYSE:UDRFree Report).

Institutional Ownership by Quarter for UDR (NYSE:UDR)

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