Allspring Global Investments Holdings LLC Trims Stock Position in UDR, Inc. (NYSE:UDR)

Allspring Global Investments Holdings LLC decreased its position in UDR, Inc. (NYSE:UDR) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,948 shares of the real estate investment trust’s stock after selling 6,446 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UDR were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. SG Americas Securities LLC raised its position in UDR by 3.9% during the 3rd quarter. SG Americas Securities LLC now owns 50,093 shares of the real estate investment trust’s stock valued at $1,787,000 after purchasing an additional 1,860 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of UDR by 5.0% in the third quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 299 shares in the last quarter. Czech National Bank lifted its stake in UDR by 44.6% in the third quarter. Czech National Bank now owns 52,979 shares of the real estate investment trust’s stock worth $1,890,000 after acquiring an additional 16,342 shares during the period. Handelsbanken Fonder AB grew its holdings in UDR by 3.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 180,867 shares of the real estate investment trust’s stock worth $6,452,000 after acquiring an additional 5,937 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in UDR by 15.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 101,205 shares of the real estate investment trust’s stock valued at $3,610,000 after purchasing an additional 13,500 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

UDR has been the topic of several recent research reports. The Goldman Sachs Group began coverage on UDR in a research report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 target price on the stock. Mizuho cut their target price on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley reissued an “equal weight” rating and set a $37.00 price target on shares of UDR in a research report on Monday, February 26th. Truist Financial lowered their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.83.

UDR Price Performance

Shares of NYSE:UDR opened at $37.96 on Friday. UDR, Inc. has a twelve month low of $30.95 and a twelve month high of $44.02. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. The company has a market cap of $12.50 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 2.98 and a beta of 0.80. The company’s 50 day moving average is $36.70 and its 200 day moving average is $35.95.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.48%. This is a positive change from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio is presently 126.87%.

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.