Baird Financial Group Inc. raised its position in UDR, Inc. (NYSE:UDR – Get Rating) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,791 shares of the real estate investment trust’s stock after purchasing an additional 266 shares during the period. Baird Financial Group Inc.’s holdings in UDR were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in UDR in the second quarter valued at $220,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in UDR by 15.8% in the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,225 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 1,398 shares in the last quarter. Kentucky Retirement Systems increased its stake in UDR by 16.5% in the second quarter. Kentucky Retirement Systems now owns 22,213 shares of the real estate investment trust’s stock valued at $1,023,000 after purchasing an additional 3,151 shares during the last quarter. Texas Permanent School Fund raised its holdings in UDR by 1.6% during the second quarter. Texas Permanent School Fund now owns 39,428 shares of the real estate investment trust’s stock worth $1,815,000 after purchasing an additional 637 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in UDR by 7.0% during the second quarter. State of Michigan Retirement System now owns 80,745 shares of the real estate investment trust’s stock worth $3,717,000 after purchasing an additional 5,300 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
UDR has been the topic of a number of recent analyst reports. Barclays dropped their target price on shares of UDR from $56.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. Jefferies Financial Group dropped their price objective on UDR from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. Morgan Stanley reduced their target price on UDR from $54.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, October 21st. Evercore ISI cut their price target on UDR to $45.00 in a research report on Thursday, October 13th. Finally, Royal Bank of Canada reduced their price objective on UDR from $46.00 to $43.00 and set a “sector perform” rating for the company in a research note on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.25.
UDR Price Performance
UDR Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, October 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.76%. UDR’s payout ratio is currently 310.20%.
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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