Kentucky Retirement Systems Decreases Stock Position in UDR, Inc. (NYSE:UDR)

Kentucky Retirement Systems lessened its stake in UDR, Inc. (NYSE:UDR) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,909 shares of the real estate investment trust’s stock after selling 1,921 shares during the quarter. Kentucky Retirement Systems’ holdings in UDR were worth $948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in shares of UDR in the second quarter valued at approximately $26,000. UMB Bank n.a. acquired a new stake in UDR during the second quarter worth $33,000. Rothschild Investment LLC acquired a new stake in UDR during the second quarter worth $35,000. Quest Partners LLC acquired a new stake in UDR during the second quarter worth $37,000. Finally, International Assets Investment Management LLC acquired a new stake in UDR during the second quarter worth $40,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Trading Up 0.1 %

NYSE:UDR opened at $44.50 on Wednesday. UDR, Inc. has a 1 year low of $32.37 and a 1 year high of $47.55. The stock has a market cap of $14.68 billion, a P/E ratio of 120.27, a P/E/G ratio of 12.30 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. The stock has a 50-day simple moving average of $44.63 and a 200-day simple moving average of $42.18.

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 issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is 459.47%.

Analyst Ratings Changes

Several research firms have issued reports on UDR. 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 target price for the company. Scotiabank dropped their price objective on UDR from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Truist Financial lifted their price objective on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Wells Fargo & Company lifted their price objective on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Piper Sandler lifted their price objective on UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, UDR presently has an average rating of “Hold” and an average target price of $45.18.

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.