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

Duff & Phelps Investment Management Co. decreased its position in UDR, Inc. (NYSE:UDR) by 28.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,761,750 shares of the real estate investment trust’s stock after selling 691,770 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.54% of UDR worth $67,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of UDR by 5.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 299 shares in the last quarter. Cerity Partners LLC lifted its position in shares of UDR by 0.3% during the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock worth $3,929,000 after purchasing an additional 313 shares in the last quarter. Allworth Financial LP grew its stake in shares of UDR by 20.1% during 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. Mackenzie Financial Corp increased its holdings in shares of UDR by 1.8% in the third quarter. Mackenzie Financial Corp now owns 30,386 shares of the real estate investment trust’s stock valued at $1,058,000 after purchasing an additional 550 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in UDR by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 148,286 shares of the real estate investment trust’s stock worth $5,289,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analysts Set New Price Targets

UDR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a research note on Tuesday, January 30th. They issued a “hold” rating and a $40.00 target price for the company. Truist Financial lowered their price objective on UDR from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Mizuho cut their target price on shares of UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of UDR in a research note on Monday. Finally, Piper Sandler raised shares of UDR from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.78.

UDR Stock Down 0.1 %

Shares of UDR traded down $0.03 during mid-day trading on Tuesday, hitting $38.26. 795,752 shares of the company’s stock were exchanged, compared to its average volume of 2,914,918. The company has a market cap of $12.60 billion, a PE ratio of 28.57, a P/E/G ratio of 3.03 and a beta of 0.80. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.02. The company has a 50-day simple moving average of $36.78 and a 200 day simple moving average of $35.97. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be given a dividend of $0.425 per share. The ex-dividend date is Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.44%. UDR’s dividend payout ratio is 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.