Sumitomo Mitsui Trust Holdings Inc. Raises Stock Holdings in UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in UDR, Inc. (NYSE:UDR) by 79.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,830,437 shares of the real estate investment trust’s stock after acquiring an additional 809,273 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.56% of UDR worth $70,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of UDR in the fourth quarter valued at $701,000. Cerity Partners LLC lifted its position in shares of UDR by 0.3% in the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock valued at $3,929,000 after acquiring an additional 313 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of UDR by 3,730.9% in the fourth quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock valued at $1,430,000 after acquiring an additional 36,376 shares in the last quarter. Allworth Financial LP increased its stake in UDR by 20.1% in the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in UDR by 0.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 589,660 shares of the real estate investment trust’s stock valued at $22,861,000 after purchasing an additional 2,626 shares during the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UDR has been the subject of several analyst reports. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and upped their target price for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a research note on Tuesday, January 30th. They issued a “hold” rating and a $40.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $37.00 target price on shares of UDR in a research note on Monday, February 26th. Mizuho dropped their target price on UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Barclays lowered UDR from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $46.00 to $37.00 in a research note on Tuesday, February 20th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.71.

UDR Price Performance

UDR stock opened at $35.34 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $44.02. The firm has a market cap of $11.64 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 2.82 and a beta of 0.80. The stock has a 50-day simple moving average of $36.49 and a 200-day simple moving average of $35.89.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.81%. This is an increase from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio is currently 126.87%.

UDR Company Profile

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.