Prudential Financial Inc. Buys 583,126 Shares of UDR, Inc. (NYSE:UDR)

Prudential Financial Inc. lifted its position in UDR, Inc. (NYSE:UDR) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,989,563 shares of the real estate investment trust’s stock after acquiring an additional 583,126 shares during the quarter. Prudential Financial Inc. owned 0.91% of UDR worth $129,777,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of UDR during the third quarter worth $33,000. Continuum Advisory LLC lifted 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 valued at $41,000 after purchasing an additional 907 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 491 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of UDR by 62.7% during the fourth 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 in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in UDR in the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UDR. Wells Fargo & Company reduced their target price on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and upped their price target for the stock from $45.00 to $46.00 in a report on Monday, March 10th. Mizuho lowered their target price on shares of UDR from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group cut shares of UDR from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $45.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada increased their price target on shares of UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.12.

Insider Buying and Selling at UDR

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the completion of the transaction, the chief executive officer now directly owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.73% of the company’s stock.

UDR Stock Down 0.6 %

UDR stock opened at $43.36 on Monday. The company has a 50 day moving average of $42.75 and a two-hundred day moving average of $43.77. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. UDR, Inc. has a 12-month low of $35.14 and a 12-month high of $47.55. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 173.44, a PEG ratio of 8.67 and a beta of 0.88.

UDR (NYSE:UDR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, equities analysts anticipate that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from UDR’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR’s dividend payout ratio is presently 688.00%.

UDR Company 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.