UDR, Inc. (NYSE:UDR) Shares Bought by State of Tennessee Treasury Department

State of Tennessee Treasury Department grew its holdings in shares of UDR, Inc. (NYSE:UDRFree Report) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 578,850 shares of the real estate investment trust’s stock after acquiring an additional 3,865 shares during the quarter. State of Tennessee Treasury Department owned about 0.18% of UDR worth $22,164,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in UDR by 5.0% during the 4th quarter. Sei Investments Co. now owns 1,352,313 shares of the real estate investment trust’s stock worth $51,780,000 after acquiring an additional 64,012 shares during the period. Waterfront Capital Partners LLC acquired a new stake in shares of UDR in the fourth quarter valued at $35,007,000. Cibc World Markets Corp lifted its holdings in shares of UDR by 737.4% in 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 buying an additional 123,373 shares during the period. EMG Holdings L.P. acquired a new stake in shares of UDR in the fourth quarter valued at $4,978,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of UDR by 285.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 43,001 shares of the real estate investment trust’s stock valued at $1,647,000 after buying an additional 31,856 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Stock Performance

UDR stock opened at $39.83 on Tuesday. The business’s 50-day moving average price is $38.09 and its two-hundred day moving average price is $37.13. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. The firm has a market cap of $13.12 billion, a PE ratio of 28.86, a P/E/G ratio of 8.77 and a beta of 0.81. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $44.02.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This is a positive change from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.27%. UDR’s payout ratio is currently 123.19%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UDR shares. Truist Financial cut their price objective on UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Morgan Stanley upped their target price on UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Wedbush upped their price target on UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. The Goldman Sachs Group assumed coverage on UDR in a report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $34.00 to $40.00 in a report on Wednesday, April 10th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, UDR has an average rating of “Hold” and a consensus price target of $40.65.

Get Our Latest Research Report on UDR

Insiders Place Their Bets

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

About UDR

(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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