Alliancebernstein L.P. Lowers Stock Holdings in UDR, Inc. (NYSE:UDR)

Alliancebernstein L.P. lowered its stake in UDR, Inc. (NYSE:UDR) by 6.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,336,486 shares of the real estate investment trust’s stock after selling 94,407 shares during the quarter. Alliancebernstein L.P.’s holdings in UDR were worth $58,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Partners in Financial Planning purchased a new position in UDR during the 4th quarter worth $537,000. O Shaughnessy Asset Management LLC increased its stake in shares of UDR by 21.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 22,068 shares of the real estate investment trust’s stock worth $958,000 after acquiring an additional 3,965 shares during the period. Schroder Investment Management Group raised its holdings in UDR by 7.5% during the fourth quarter. Schroder Investment Management Group now owns 962,310 shares of the real estate investment trust’s stock worth $41,447,000 after purchasing an additional 67,288 shares in the last quarter. Allstate Corp lifted its position in UDR by 184.5% in the fourth quarter. Allstate Corp now owns 70,157 shares of the real estate investment trust’s stock valued at $3,046,000 after purchasing an additional 45,499 shares during the period. Finally, DnB Asset Management AS boosted its holdings in UDR by 5.0% in the 4th quarter. DnB Asset Management AS now owns 51,829 shares of the real estate investment trust’s stock valued at $2,250,000 after purchasing an additional 2,482 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Insider Transactions at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the transaction, the chief executive officer now directly owns 824,716 shares in the company, valued at approximately $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.73% of the company’s stock.

UDR Stock Down 7.4 %

UDR opened at $40.46 on Friday. The firm has a market cap of $13.40 billion, a P/E ratio of 161.84, a PEG ratio of 8.67 and a beta of 0.88. The business’s fifty day simple moving average is $43.38 and its 200 day simple moving average is $43.69. UDR, Inc. has a 52 week low of $35.14 and a 52 week high of $47.55. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71.

UDR (NYSE:UDR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. As a group, equities research analysts anticipate that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Thursday, April 10th. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio is currently 688.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on UDR shares. Royal Bank of Canada increased their target price on UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Truist Financial lowered shares of UDR from a “buy” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Zelman & Associates reiterated a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of UDR from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and an average price target of $46.12.

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.