PGGM Investments Raises Position in UDR, Inc. (NYSE:UDR)

PGGM Investments raised its position in shares of UDR, Inc. (NYSE:UDR) by 44.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,324,664 shares of the real estate investment trust’s stock after purchasing an additional 720,423 shares during the period. UDR makes up approximately 1.4% of PGGM Investments’ holdings, making the stock its 19th largest holding. PGGM Investments owned approximately 0.71% of UDR worth $89,011,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in UDR. Addison Advisors LLC grew its stake in shares of UDR by 53.1% in the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 600 shares during the last quarter. Aew Capital Management L P raised its holdings in UDR by 0.3% in the 4th quarter. Aew Capital Management L P now owns 2,601,811 shares of the real estate investment trust’s stock worth $99,623,000 after acquiring an additional 6,507 shares during the last quarter. Schnieders Capital Management LLC purchased a new position in UDR in the 4th quarter worth approximately $223,000. GAMMA Investing LLC purchased a new position in UDR in the 4th quarter worth approximately $183,000. Finally, Cetera Trust Company N.A purchased a new position in UDR in the 4th quarter worth approximately $92,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UDR. Mizuho cut their price objective on shares of UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Barclays lowered shares of UDR from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $46.00 to $37.00 in a research report on Tuesday, February 20th. Truist Financial decreased their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Thursday, February 22nd. They set a “neutral” rating and a $39.00 price target for the company. Finally, Morgan Stanley reissued an “equal weight” rating and set a $37.00 price objective on shares of UDR in a report on Monday, February 26th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.83.

UDR Trading Down 0.2 %

Shares of UDR traded down $0.06 during trading hours on Friday, hitting $37.91. The stock had a trading volume of 2,117,561 shares, compared to its average volume of 2,635,260. The company’s fifty day simple moving average is $36.73 and its 200 day simple moving average is $35.96. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The firm has a market cap of $12.48 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.04 and a beta of 0.80.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 4.48%. UDR’s dividend payout ratio (DPR) is currently 126.87%.

UDR Company Profile

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.