UDR, Inc. (NYSE:UDR) Holdings Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in UDR, Inc. (NYSE:UDR) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,646 shares of the real estate investment trust’s stock after selling 1,546 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of UDR worth $6,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of UDR in the 4th quarter valued at approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of UDR in the first quarter worth $26,000. Quest Partners LLC purchased a new position in shares of UDR during the fourth quarter valued at $27,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in UDR by 87.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 669 shares during the period. Finally, Addison Advisors LLC lifted 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 acquiring an additional 600 shares in the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Piper Sandler upgraded shares of 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 research report on Wednesday, April 10th. Wedbush boosted their price target on shares of UDR from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Scotiabank increased their price objective on UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Finally, Truist Financial boosted their target price on UDR from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.71.

Insiders Place Their Bets

In other news, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were 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 owns 849,716 shares in the company, valued at approximately $33,580,776.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The disclosure for this sale can be found here. Corporate insiders own 3.73% of the company’s stock.

UDR Price Performance

NYSE UDR traded up $0.78 on Thursday, reaching $41.43. The company’s stock had a trading volume of 67,698 shares, compared to its average volume of 2,646,449. The firm has a market cap of $13.64 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 9.00 and a beta of 0.83. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.02. The business has a 50-day moving average price of $39.70 and a 200 day moving average price of $37.90.

UDR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is 123.19%.

About UDR

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.