Franklin Resources Inc. Cuts Stock Position in UDR, Inc. (NYSE:UDR)

Franklin Resources Inc. decreased its holdings in shares of UDR, Inc. (NYSE:UDR) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,641 shares of the real estate investment trust’s stock after selling 10,240 shares during the quarter. Franklin Resources Inc.’s holdings in UDR were worth $10,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UDR. Family Firm Inc. acquired a new position in shares of UDR during the second quarter worth $26,000. Activest Wealth Management purchased a new stake in UDR during the 3rd quarter worth $27,000. UMB Bank n.a. acquired a new position in UDR in the 2nd quarter worth $33,000. Brooklyn Investment Group purchased a new position in UDR in the 3rd quarter valued at about $33,000. Finally, Rothschild Investment LLC acquired a new stake in shares of UDR during the second quarter valued at about $35,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on UDR shares. Wells Fargo & Company boosted their price target on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Piper Sandler raised their price target on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. The Goldman Sachs Group started coverage on shares of UDR in a report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price target on the stock. Truist Financial raised their price objective on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reduced their price target on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.00.

UDR Stock Performance

Shares of UDR opened at $43.46 on Friday. The firm has a fifty day moving average of $44.34 and a 200-day moving average of $43.14. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 117.46, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. UDR, Inc. has a 1 year low of $34.19 and a 1 year high of $47.55.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 9th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, January 9th. UDR’s dividend payout ratio (DPR) is 459.46%.

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.