UDR, Inc. (NYSE:UDR) Stake Lifted by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its stake in UDR, Inc. (NYSE:UDR) by 9.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 25,632 shares of the real estate investment trust’s stock after buying an additional 2,187 shares during the quarter. Panagora Asset Management Inc.’s holdings in UDR were worth $981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of UDR. Cerity Partners LLC boosted its stake in UDR by 0.3% during the 4th quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock valued at $3,929,000 after purchasing an additional 313 shares during the period. Allworth Financial LP boosted its position in shares of UDR by 20.1% during the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 325 shares during the period. Treasurer of the State of North Carolina grew its holdings in UDR by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 148,286 shares of the real estate investment trust’s stock worth $5,289,000 after buying an additional 550 shares in the last quarter. Addison Advisors LLC increased its position in UDR by 53.1% in the 4th quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 600 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in UDR by 87.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 669 shares in the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UDR. Barclays lowered UDR from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. Morgan Stanley boosted their price target on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of UDR in a research note on Tuesday, January 30th. They set a “hold” rating and a $40.00 price objective on the stock. Wells Fargo & Company upgraded UDR from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Finally, Truist Financial lowered their price target on UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.35.

Insiders Place Their Bets

In other news, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the sale, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.73% of the company’s stock.

UDR Price Performance

NYSE UDR opened at $39.61 on Thursday. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $44.02. The stock’s 50-day moving average price is $37.59 and its two-hundred day moving average price is $36.55. The company has a market cap of $13.04 billion, a PE ratio of 28.70, a PEG ratio of 8.78 and a beta of 0.79. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were paid a $0.425 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.29%. UDR’s dividend payout ratio (DPR) is currently 123.19%.

UDR 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.