UDR, Inc. (NYSE:UDR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in UDR, Inc. (NYSE:UDR) by 4.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,832 shares of the real estate investment trust’s stock after selling 17,338 shares during the quarter. Principal Financial Group Inc.’s holdings in UDR were worth $15,952,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Capital Research Global Investors purchased a new position in UDR in the 1st quarter valued at approximately $176,137,000. Millennium Management LLC grew its position in shares of UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock valued at $143,990,000 after purchasing an additional 1,874,096 shares during the period. PGGM Investments grew its position in shares of UDR by 38.2% in the first quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock valued at $120,151,000 after purchasing an additional 887,060 shares during the period. Lasalle Investment Management Securities LLC grew its position in shares of UDR by 64.6% in the first quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust’s stock valued at $54,148,000 after purchasing an additional 567,878 shares during the period. Finally, APG Asset Management US Inc. acquired a new position in UDR in the second quarter valued at $22,572,000. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Performance

NYSE:UDR opened at $44.31 on Friday. UDR, Inc. has a 12-month low of $32.37 and a 12-month high of $47.55. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $14.62 billion, a PE ratio of 119.76, a price-to-earnings-growth ratio of 12.55 and a beta of 0.85. The firm has a 50-day moving average price of $44.62 and a 200 day moving average price of $42.03.

UDR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.84%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is presently 459.46%.

Analysts Set New Price Targets

UDR has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on UDR in a research note on Wednesday, September 4th. They set a “sell” rating and a $42.00 price objective on the stock. Wedbush boosted their price objective on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Evercore ISI upped their target price on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research report on Monday, September 9th. Truist Financial boosted their target price on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, UBS Group upped their price target on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, UDR presently has a consensus rating of “Hold” and an average price target of $45.18.

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.