Sumitomo Mitsui Trust Holdings Inc. Acquires 809,273 Shares of UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in UDR, Inc. (NYSE:UDR) by 79.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,830,437 shares of the real estate investment trust’s stock after acquiring an additional 809,273 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in UDR were worth $70,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in UDR by 3.5% in the first quarter. Cetera Investment Advisers now owns 6,529 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 218 shares during the last quarter. Bessemer Group Inc. boosted its stake in UDR by 10.6% in the fourth quarter. Bessemer Group Inc. now owns 2,444 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of UDR by 3.8% during the first quarter. Baird Financial Group Inc. now owns 6,525 shares of the real estate investment trust’s stock worth $374,000 after purchasing an additional 237 shares in the last quarter. Snowden Capital Advisors LLC boosted its position in shares of UDR by 5.2% during the first quarter. Snowden Capital Advisors LLC now owns 5,455 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 271 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of UDR by 3.6% during the first quarter. Neuberger Berman Group LLC now owns 8,374 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 291 shares in the last quarter. 97.84% of the stock is owned by institutional investors.

UDR Stock Up 0.2 %

Shares of UDR stock opened at $35.34 on Thursday. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $44.02. The firm’s fifty day moving average price is $36.49 and its two-hundred day moving average price is $35.89. The firm has a market capitalization of $11.64 billion, a P/E ratio of 26.37, a PEG ratio of 2.82 and a beta of 0.80.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.81%. The ex-dividend date is Tuesday, April 9th. UDR’s payout ratio is presently 126.87%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of UDR from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. The Goldman Sachs Group assumed coverage on shares of UDR in a research report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of UDR in a research report on Tuesday, January 30th. They set a “hold” rating and a $40.00 price target on the stock. Mizuho reduced their price target on shares of UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Truist Financial reduced their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.71.

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.