Amalgamated Bank lessened its stake in UDR, Inc. (NYSE:UDR – Get Rating) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,141 shares of the real estate investment trust’s stock after selling 4,706 shares during the period. Amalgamated Bank’s holdings in UDR were worth $4,311,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in UDR by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock valued at $2,904,527,000 after buying an additional 2,353,851 shares during the period. BlackRock Inc. boosted its position in UDR by 9.1% in 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 buying an additional 2,901,453 shares during the period. State Street Corp boosted its position in UDR by 11.3% in the 1st quarter. State Street Corp now owns 20,573,811 shares of the real estate investment trust’s stock valued at $1,180,320,000 after buying an additional 2,084,674 shares during the period. Norges Bank purchased a new stake in UDR in the 4th quarter valued at about $1,087,564,000. Finally, JPMorgan Chase & Co. boosted its position in UDR by 9.5% in the 1st quarter. JPMorgan Chase & Co. now owns 6,126,345 shares of the real estate investment trust’s stock valued at $351,468,000 after buying an additional 532,359 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on UDR shares. Morgan Stanley boosted their price objective on shares of UDR from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, August 11th. Mizuho cut shares of UDR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $48.00 to $46.00 in a research report on Monday. They noted that the move was a valuation call. Truist Financial lowered their price objective on shares of UDR from $53.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, June 24th. BMO Capital Markets cut shares of UDR from an “outperform” rating to a “market perform” rating and set a $54.00 price target for the company. in a research report on Friday, August 19th. Finally, KeyCorp lowered their price target on shares of UDR from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, UDR currently has an average rating of “Hold” and a consensus target price of $55.00.
UDR Trading Down 3.3 %
UDR Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.59%. UDR’s payout ratio is 316.67%.
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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