DnB Asset Management AS Grows Stock Holdings in UDR, Inc. (NYSE:UDR)

DnB Asset Management AS raised its stake in UDR, Inc. (NYSE:UDR) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,829 shares of the real estate investment trust’s stock after buying an additional 2,482 shares during the period. DnB Asset Management AS’s holdings in UDR were worth $2,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of UDR. Continuum Advisory LLC raised its holdings in UDR by 5,335.3% during the third quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 907 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of UDR by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 491 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in shares of UDR by 62.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of UDR in the 4th quarter worth about $63,000. Finally, Eastern Bank acquired a new stake in UDR in the 4th quarter valued at about $68,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer now directly owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.73% of the stock is currently owned by company insiders.

UDR Stock Performance

NYSE UDR opened at $45.15 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. UDR, Inc. has a 1-year low of $35.14 and a 1-year high of $47.55. The firm has a market capitalization of $14.95 billion, a P/E ratio of 180.58, a P/E/G ratio of 8.67 and a beta of 0.88. The business’s 50-day simple moving average is $43.22 and its 200-day simple moving average is $43.72.

UDR (NYSE:UDR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. Equities analysts predict that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.43 per share. This is a positive change from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, April 10th. UDR’s dividend payout ratio is currently 688.00%.

Analyst Ratings Changes

Several analysts have issued reports on UDR shares. Scotiabank upped their price target on shares of UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Jefferies Financial Group cut UDR from a “buy” rating to a “hold” rating and lowered their target price for the company from $50.00 to $45.00 in a report on Thursday, January 2nd. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and raised their price target for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Evercore ISI upped their price objective on UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.12.

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.