Prudential PLC Cuts Stake in UDR, Inc. (NYSE:UDR)

Prudential PLC lessened its stake in shares of UDR, Inc. (NYSE:UDRFree Report) by 53.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,574 shares of the real estate investment trust’s stock after selling 42,071 shares during the period. Prudential PLC’s holdings in UDR were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cibc World Markets Corp raised its holdings in shares of UDR by 737.4% during the fourth quarter. Cibc World Markets Corp now owns 140,103 shares of the real estate investment trust’s stock valued at $5,365,000 after acquiring an additional 123,373 shares during the last quarter. EMG Holdings L.P. purchased a new position in UDR in the 4th quarter valued at $4,978,000. Tower Research Capital LLC TRC boosted its stake in UDR by 285.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 43,001 shares of the real estate investment trust’s stock worth $1,647,000 after purchasing an additional 31,856 shares during the last quarter. Eisler Capital UK Ltd. purchased a new stake in shares of UDR during the fourth quarter worth $234,000. Finally, Centersquare Investment Management LLC grew its holdings in shares of UDR by 35.9% during the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock worth $310,807,000 after buying an additional 2,145,242 shares in the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Price Performance

UDR stock opened at $39.83 on Tuesday. The business’s fifty day moving average price is $38.09 and its 200 day moving average price is $37.13. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The company has a market capitalization of $13.12 billion, a PE ratio of 28.86, a P/E/G ratio of 8.77 and a beta of 0.81. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio is currently 123.19%.

Insider Activity

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares in the company, valued at approximately $326,964.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares of the company’s stock, valued at $326,964.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The disclosure for this sale can be found here. Insiders own 3.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lowered shares of UDR from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $46.00 to $37.00 in a research report on Tuesday, February 20th. Wells Fargo & Company upped their price target on UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Wedbush lifted their price objective on UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Truist Financial dropped their target price on UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, UBS Group upgraded UDR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $44.00 in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.65.

View Our Latest Report on UDR

UDR Company Profile

(Free Report)

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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Institutional Ownership by Quarter for UDR (NYSE:UDR)

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