Duff & Phelps Investment Management Co. Sells 691,770 Shares of UDR, Inc. (NYSE:UDR)

Duff & Phelps Investment Management Co. trimmed its holdings in UDR, Inc. (NYSE:UDR) by 28.2% in the fourth quarter, HoldingsChannel reports. The fund owned 1,761,750 shares of the real estate investment trust’s stock after selling 691,770 shares during the period. Duff & Phelps Investment Management Co.’s holdings in UDR were worth $67,457,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in UDR. Parkside Financial Bank & Trust lifted its stake in UDR by 225.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 754 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position 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 worth $55,000 after acquiring an additional 669 shares during the last quarter. Addison Advisors LLC increased its stake 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 worth $66,000 after purchasing an additional 600 shares during the period. Allworth Financial LP lifted its position in UDR by 20.1% in the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in shares of UDR in the third quarter worth approximately $85,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group began coverage on UDR in a research note on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 target price on the stock. Wells Fargo & Company upgraded shares of UDR from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $34.00 to $39.00 in a report on Monday, March 4th. Barclays lowered shares of UDR from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $46.00 to $37.00 in a report on Tuesday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of UDR in a research note on Monday. Finally, Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.78.

UDR Price Performance

Shares of NYSE UDR traded down $0.03 during midday trading on Tuesday, reaching $38.26. The stock had a trading volume of 795,752 shares, compared to its average volume of 2,914,918. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The stock has a 50-day moving average of $36.78 and a 200-day moving average of $35.97. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a $0.425 dividend. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, April 9th. UDR’s payout ratio is currently 126.87%.

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.