Allspring Global Investments Holdings LLC Boosts Stock Position in UDR, Inc. (NYSE:UDR)

Allspring Global Investments Holdings LLC lifted its holdings in UDR, Inc. (NYSE:UDR – Get Rating) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 33,657 shares of the real estate investment trust’s stock after purchasing an additional 255 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UDR were worth $1,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cetera Investment Advisers grew its holdings in shares of UDR by 3.5% in the first quarter. Cetera Investment Advisers now owns 6,529 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 218 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in UDR by 3.8% during the second quarter. Cetera Advisor Networks LLC now owns 6,418 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 235 shares during the period. Baird Financial Group Inc. boosted its stake in UDR by 3.8% during the first quarter. Baird Financial Group Inc. now owns 6,525 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 237 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in UDR by 6.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,713 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 265 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in UDR by 3.6% during the first quarter. Neuberger Berman Group LLC now owns 8,374 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 291 shares during the period. 92.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other UDR news, CEO Thomas W. Toomey sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $40.44, for a total value of $808,800.00. Following the completion of the transaction, the chief executive officer now directly owns 984,716 shares in the company, valued at $39,821,915.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.41% of the stock is currently owned by corporate insiders.

UDR Stock Performance

Shares of UDR stock opened at $39.98 on Friday. The company has a market capitalization of $13.02 billion, a PE ratio of 81.59, a P/E/G ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The company has a 50-day simple moving average of $39.61 and a two-hundred day simple moving average of $42.32. UDR, Inc. has a one year low of $37.18 and a one year high of $60.01.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Monday, January 9th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.80%. UDR’s dividend payout ratio is presently 310.20%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group assumed coverage on shares of UDR in a research note on Thursday, December 15th. They set a “neutral” rating and a $43.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of UDR from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Piper Sandler lowered their target price on shares of UDR from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 7th. Evercore ISI lowered their target price on shares of UDR to $45.00 in a research note on Thursday, October 13th. Finally, Morgan Stanley raised shares of UDR from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $49.00 to $47.00 in a research note on Friday, December 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, UDR currently has an average rating of “Hold” and a consensus price target of $46.71.

UDR Company Profile

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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.