Bank of America Corp DE increased its stake in shares of UDR, Inc. (NYSE:UDR – Get Rating) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,235,779 shares of the real estate investment trust’s stock after acquiring an additional 199,485 shares during the period. Bank of America Corp DE’s holdings in UDR were worth $128,267,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dixon Hughes Goodman Wealth Advisors LLC raised its holdings in shares of UDR by 111.1% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 684 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 360 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of UDR during the first quarter worth $66,000. Meeder Asset Management Inc. acquired a new stake in shares of UDR during the first quarter worth $78,000. Tobam raised its holdings in shares of UDR by 106.0% during the first quarter. Tobam now owns 1,543 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 794 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of UDR by 16.5% during the first quarter. Allworth Financial LP now owns 1,695 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 240 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on UDR. UBS Group restated a “buy” rating and set a $52.00 price objective on shares of UDR in a report on Wednesday, August 3rd. KeyCorp lowered their price target on shares of UDR from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Morgan Stanley lifted their price target on shares of UDR from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. Credit Suisse Group started coverage on shares of UDR in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Mizuho lowered shares of UDR from a “buy” rating to a “neutral” rating and lowered their price target for the company from $48.00 to $46.00 in a research note on Monday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, UDR presently has an average rating of “Hold” and a consensus target price of $55.00.
UDR Stock Performance
UDR Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, October 7th. 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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