Van ECK Associates Corp Raises Position in UDR, Inc. (NYSE:UDR)

Van ECK Associates Corp raised its stake in shares of UDR, Inc. (NYSE:UDR) by 4.0% during the first quarter, HoldingsChannel reports. The firm owned 133,905 shares of the real estate investment trust’s stock after buying an additional 5,107 shares during the quarter. Van ECK Associates Corp’s holdings in UDR were worth $5,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UDR. Principal Securities Inc. purchased a new stake in UDR during the fourth quarter valued at approximately $26,000. Quest Partners LLC purchased a new stake in UDR during the fourth quarter valued at approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in UDR by 87.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 669 shares during the period. Addison Advisors LLC raised its position in UDR by 53.1% during the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 600 shares during the period. Finally, Allworth Financial LP grew its stake 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. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the transaction, the senior vice president now owns 8,566 shares in the company, valued at approximately $326,964.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the transaction, the senior vice president now owns 8,566 shares in the company, valued at approximately $326,964.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by company insiders.

UDR Stock Up 0.4 %

Shares of UDR traded up $0.18 during midday trading on Friday, hitting $40.78. 1,727,046 shares of the company’s stock traded hands, compared to its average volume of 2,677,925. 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 is $39.47 and its 200-day moving average is $37.80. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 8.95 and a beta of 0.83.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $0.425 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a yield of 4.17%. UDR’s dividend payout ratio (DPR) is 123.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UDR shares. Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and upped their target price for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Scotiabank upped their target price on UDR from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Morgan Stanley upped their target price on UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Finally, Truist Financial upped their target price on UDR from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.71.

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.