Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of UDR, Inc. (NYSE:UDRGet Rating) by 14.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,092 shares of the real estate investment trust’s stock after acquiring an additional 7,778 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in UDR were worth $2,813,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in shares of UDR by 111.1% in 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 purchasing an additional 360 shares during the period. Prospera Financial Services Inc bought a new position in shares of UDR in the first quarter worth $66,000. Eaton Vance Management increased its holdings in shares of UDR by 17.0% in the fourth quarter. Eaton Vance Management now owns 5,067 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 735 shares during the period. Meeder Asset Management Inc. bought a new position in shares of UDR in the first quarter worth $78,000. Finally, Tobam increased its holdings in shares of UDR by 106.0% in the first quarter. Tobam now owns 1,543 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 794 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.

UDR Stock Up 0.0 %

Shares of NYSE:UDR opened at $42.01 on Friday. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.44. The stock’s 50-day moving average price is $46.55 and its 200-day moving average price is $49.59. The stock has a market capitalization of $13.65 billion, a P/E ratio of 87.52, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. UDR, Inc. has a 12-month low of $41.39 and a 12-month high of $61.06.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be issued 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 dividend yield of 3.62%. UDR’s dividend payout ratio is currently 316.67%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of UDR from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Evercore ISI reduced their target price on UDR from $51.00 to $49.00 and set an “in-line” rating on the stock in a research note on Monday. Jefferies Financial Group raised UDR from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Friday, July 22nd. Piper Sandler reduced their target price on UDR from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley increased their target price on UDR from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.00.

About UDR

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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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