New York State Common Retirement Fund Lowers Position in UDR, Inc. (NYSE:UDR)

New York State Common Retirement Fund trimmed its stake in UDR, Inc. (NYSE:UDR) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,385 shares of the real estate investment trust’s stock after selling 31,575 shares during the quarter. New York State Common Retirement Fund owned 0.07% of UDR worth $9,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in UDR by 225.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 754 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of UDR by 87.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 669 shares during the last quarter. Allworth Financial LP lifted its position in shares of UDR by 20.1% during the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 325 shares during the last quarter. Clearstead Advisors LLC purchased a new position in UDR in the third quarter worth $85,000. Finally, Cetera Trust Company N.A purchased a new stake in UDR in the fourth quarter valued at about $92,000. Institutional investors own 97.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on UDR shares. Mizuho lowered their price target on shares of UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of UDR in a report on Monday. The Goldman Sachs Group began coverage on UDR in a research note on Thursday, February 22nd. They set a “neutral” rating and a $39.00 target price for the company. Scotiabank downgraded shares of UDR from a “sector outperform” rating to a “sector perform” rating and set a $39.00 price target on the stock. in a research note on Wednesday. Finally, Wells Fargo & Company raised UDR from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $34.00 to $39.00 in a research report on Monday, March 4th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.44.

UDR Stock Down 1.5 %

Shares of NYSE:UDR opened at $37.49 on Thursday. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $44.02. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. The firm’s 50-day simple moving average is $36.85 and its 200-day simple moving average is $35.99. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.07 and a beta of 0.80.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.425 per share. This is a boost from UDR’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, April 9th. This represents a $1.70 annualized dividend and a yield of 4.53%. UDR’s 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.