Harvest Fund Management Co. Ltd Reduces Stock Holdings in UDR, Inc. (NYSE:UDR)

Harvest Fund Management Co. Ltd cut its holdings in UDR, Inc. (NYSE:UDR) by 64.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,965 shares of the real estate investment trust’s stock after selling 3,529 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in UDR were worth $85,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in UDR in the 3rd quarter worth approximately $33,000. Continuum Advisory LLC raised its holdings in shares of UDR by 5,335.3% in the third quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 907 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 491 shares during the period. Salem Investment Counselors Inc. grew its holdings in shares of UDR by 62.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 520 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of UDR during the fourth quarter valued at $63,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analysts Set New Price Targets

UDR has been the subject of a number of research reports. Scotiabank lifted their price target on UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Mizuho reduced their price target on shares of UDR from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group downgraded shares of UDR from a “buy” rating to a “hold” rating and dropped their price objective for the company from $50.00 to $45.00 in a report on Thursday, January 2nd. Finally, Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and raised their target price for the stock from $45.00 to $46.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.12.

Insider Buying and Selling at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 824,716 shares of the company’s stock, valued at $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.73% of the company’s stock.

UDR Trading Down 0.6 %

Shares of NYSE:UDR opened at $43.36 on Monday. The business’s 50 day moving average price is $42.75 and its 200-day moving average price is $43.77. UDR, Inc. has a 1 year low of $35.14 and a 1 year high of $47.55. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 173.44, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91.

UDR (NYSE:UDR) last posted 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 net margin of 5.36% and a return on equity of 2.65%. On average, equities research analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The company also recently disclosed 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 is a positive change from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, April 10th. UDR’s payout ratio is 688.00%.

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.