Spirit of America Management Corp NY trimmed its holdings in shares of UDR, Inc. (NYSE:UDR) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,756 shares of the real estate investment trust’s stock after selling 3,550 shares during the period. Spirit of America Management Corp NY’s holdings in UDR were worth $2,626,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of UDR. Cohen & Steers Inc. boosted its position in UDR by 17.2% during the third quarter. Cohen & Steers Inc. now owns 42,605,733 shares of the real estate investment trust’s stock valued at $1,722,550,000 after buying an additional 6,258,015 shares during the period. Zimmer Partners LP purchased a new stake in UDR during the fourth quarter valued at about $165,414,000. Norges Bank purchased a new stake in UDR during the fourth quarter valued at about $106,065,000. Oregon Public Employees Retirement Fund boosted its position in UDR by 3,986.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,198,148 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,168,828 shares during the period. Finally, FMR LLC boosted its position in UDR by 6.5% during the fourth quarter. FMR LLC now owns 15,696,931 shares of the real estate investment trust’s stock valued at $621,912,000 after buying an additional 958,499 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.
Shares of UDR stock traded down $0.70 during trading on Wednesday, reaching $43.78. 300,489 shares of the stock were exchanged, compared to its average volume of 1,280,139. The company has a current ratio of 7.61, a quick ratio of 7.61 and a debt-to-equity ratio of 1.23. The firm has a market cap of $12.86 billion, a P/E ratio of 22.34, a P/E/G ratio of 3.92 and a beta of 0.55. UDR, Inc. has a 1 year low of $34.48 and a 1 year high of $45.92.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be issued a $0.3425 dividend. The ex-dividend date of this dividend is Monday, April 8th. This is a positive change from UDR’s previous quarterly dividend of $0.32. This represents a $1.37 annualized dividend and a yield of 3.13%. UDR’s dividend payout ratio (DPR) is 69.90%.
In other UDR news, VP Warren L. Troupe sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $44.66, for a total value of $2,233,000.00. Following the completion of the sale, the vice president now directly owns 495,761 shares in the company, valued at $22,140,686.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynne B. Sagalyn sold 4,289 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $44.97, for a total transaction of $192,876.33. Following the completion of the sale, the director now owns 81,852 shares of the company’s stock, valued at $3,680,884.44. The disclosure for this sale can be found here. Insiders sold 124,289 shares of company stock valued at $5,586,476 over the last 90 days. 2.85% of the stock is currently owned by company insiders.
Several research firms have issued reports on UDR. Barclays restated a “hold” rating and set a $46.00 price target on shares of UDR in a research report on Tuesday. BMO Capital Markets restated a “hold” rating and set a $49.00 price target on shares of UDR in a research report on Monday, March 25th. Goldman Sachs Group lowered shares of UDR from a “neutral” rating to a “sell” rating and cut their price target for the company from $43.00 to $39.00 in a research report on Monday, March 11th. Zacks Investment Research lowered shares of UDR from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Finally, JPMorgan Chase & Co. upgraded shares of UDR from a “neutral” rating to an “overweight” rating in a report on Wednesday, December 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $44.00.
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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 properties in targeted U.S.
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