Shell Asset Management Co. Cuts Holdings in UDR, Inc. (NYSE:UDR)

Shell Asset Management Co. trimmed its holdings in shares of UDR, Inc. (NYSE:UDRGet Rating) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,200 shares of the real estate investment trust’s stock after selling 1,509 shares during the period. Shell Asset Management Co.’s holdings in UDR were worth $643,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in UDR by 9.1% during the 4th quarter. BlackRock Inc. now owns 34,773,820 shares of the real estate investment trust’s stock valued at $2,086,082,000 after purchasing an additional 2,901,453 shares during the last quarter. State Street Corp boosted its stake in UDR by 10.6% during the 4th quarter. State Street Corp now owns 18,489,137 shares of the real estate investment trust’s stock valued at $1,109,163,000 after purchasing an additional 1,772,966 shares during the last quarter. Norges Bank purchased a new stake in UDR during the 4th quarter valued at $1,087,564,000. Centersquare Investment Management LLC boosted its stake in UDR by 7.3% during the 4th quarter. Centersquare Investment Management LLC now owns 6,078,847 shares of the real estate investment trust’s stock valued at $364,670,000 after purchasing an additional 411,082 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in UDR by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 6,042,768 shares of the real estate investment trust’s stock valued at $361,656,000 after purchasing an additional 343,289 shares during the last quarter. 96.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UDR shares. Mizuho dropped their price target on UDR from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Barclays dropped their price target on UDR from $63.00 to $56.00 in a research note on Tuesday, May 10th. Morgan Stanley dropped their price target on UDR from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Truist Financial dropped their price target on UDR from $53.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. Finally, KeyCorp dropped their price target on UDR from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.44.

UDR Price Performance

NYSE:UDR opened at $47.23 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 1.44. The business’s 50-day simple moving average is $45.85 and its two-hundred day simple moving average is $51.99. The stock has a market cap of $15.04 billion, a PE ratio of 98.40, a P/E/G ratio of 2.33 and a beta of 0.75. UDR, Inc. has a 52 week low of $42.00 and a 52 week high of $61.06.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, July 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.22%. UDR’s dividend payout ratio is presently 316.67%.

UDR Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for UDR (NYSE:UDR)

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