Russell Investments Group Ltd. Decreases Stock Holdings in UDR, Inc. (NYSE:UDR)

Russell Investments Group Ltd. trimmed its position in shares of UDR, Inc. (NYSE:UDR) by 28.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 902,680 shares of the real estate investment trust’s stock after selling 360,120 shares during the quarter. Russell Investments Group Ltd.’s holdings in UDR were worth $39,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of UDR. Vanguard Group Inc. raised its position in UDR by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust’s stock valued at $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. Norges Bank purchased a new position in shares of UDR during the fourth quarter valued at approximately $1,273,442,000. Geode Capital Management LLC increased its stake in shares of UDR by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,924,151 shares of the real estate investment trust’s stock valued at $343,129,000 after buying an additional 220,293 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of UDR by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock valued at $352,498,000 after acquiring an additional 368,087 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in UDR by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust’s stock worth $189,574,000 after acquiring an additional 95,022 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Thomas W. Toomey sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer now owns 824,716 shares of the company’s stock, valued at $35,256,609. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.73% of the stock is owned by insiders.

UDR Trading Down 2.9 %

Shares of NYSE UDR opened at $39.25 on Tuesday. The firm’s 50 day moving average price is $43.33 and its 200-day moving average price is $43.60. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The company has a market cap of $13.00 billion, a PE ratio of 157.01, a P/E/G ratio of 8.67 and a beta of 0.78.

UDR (NYSE:UDR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. On average, equities research analysts expect that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.38%. This is an increase from UDR’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR’s dividend payout ratio (DPR) is presently 688.00%.

Wall Street Analysts Forecast Growth

UDR has been the topic of a number of research analyst reports. Truist Financial downgraded shares of UDR from a “buy” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Scotiabank increased their price target on shares of UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their price objective on shares of UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Royal Bank of Canada upped their target price on UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Finally, Zelman & Associates restated a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.12.

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.