Zurcher Kantonalbank Zurich Cantonalbank Buys 1,658 Shares of UDR, Inc. (NYSE:UDR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of UDR, Inc. (NYSE:UDR) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 229,937 shares of the real estate investment trust’s stock after acquiring an additional 1,658 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of UDR worth $8,804,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in UDR by 79.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock valued at $70,087,000 after purchasing an additional 809,273 shares during the last quarter. IFM Investors Pty Ltd lifted its position in UDR by 1.3% during the fourth quarter. IFM Investors Pty Ltd now owns 66,266 shares of the real estate investment trust’s stock valued at $2,537,000 after purchasing an additional 847 shares during the last quarter. Neo Ivy Capital Management bought a new position in UDR during the third quarter valued at $1,088,000. Wolverine Asset Management LLC bought a new position in UDR during the third quarter valued at $1,363,000. Finally, State Board of Administration of Florida Retirement System lifted its position in UDR by 18.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 427,726 shares of the real estate investment trust’s stock valued at $15,257,000 after purchasing an additional 65,252 shares during the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Trading Up 1.7 %

UDR stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15. The company has a market capitalization of $11.99 billion, a PE ratio of 27.16, a P/E/G ratio of 2.91 and a beta of 0.80. The firm’s 50-day moving average is $36.52 and its 200 day moving average is $35.90. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $44.02.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.425 per share. This is an increase from UDR’s previous quarterly dividend of $0.42. 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 4.67%. UDR’s dividend payout ratio (DPR) is 126.87%.

Analyst Ratings Changes

Several equities analysts have commented on UDR shares. Morgan Stanley reiterated an “equal weight” rating and set a $37.00 price objective on shares of UDR in a research report on Monday, February 26th. Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $34.00 to $40.00 in a report on Wednesday, April 10th. The Goldman Sachs Group assumed coverage on shares of UDR in a report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 target price for the company. Truist Financial lowered their target price on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, Mizuho lowered their target price on shares of UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.71.

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.