Alliancebernstein L.P. Reduces Position in UDR, Inc. (NYSE:UDR)

Alliancebernstein L.P. cut its holdings in shares of UDR, Inc. (NYSE:UDR) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,336,486 shares of the real estate investment trust’s stock after selling 94,407 shares during the quarter. Alliancebernstein L.P. owned about 0.41% of UDR worth $58,017,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of UDR by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust’s stock worth $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. Norges Bank acquired a new position in UDR during the fourth quarter worth $1,273,442,000. JPMorgan Chase & Co. grew its holdings in UDR by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock valued at $352,498,000 after buying an additional 368,087 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of UDR by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust’s stock worth $189,574,000 after acquiring an additional 95,022 shares during the last quarter. Finally, PGGM Investments raised its holdings in shares of UDR by 7.8% during the 4th quarter. PGGM Investments now owns 3,163,812 shares of the real estate investment trust’s stock worth $137,341,000 after acquiring an additional 228,342 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price objective on shares of UDR from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Evercore ISI raised their price target on shares of UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Truist Financial lowered shares of UDR from a “buy” rating to a “hold” rating and lifted their price target for the company from $45.00 to $46.00 in a research report on Monday, March 10th. StockNews.com raised UDR from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Zelman & Associates reaffirmed a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, UDR has a consensus rating of “Hold” and a consensus target price of $46.12.

UDR Stock Performance

Shares of UDR stock opened at $40.46 on Friday. The firm has a 50 day moving average of $43.38 and a two-hundred day moving average of $43.69. The stock has a market capitalization of $13.40 billion, a PE ratio of 161.84, a P/E/G ratio of 8.67 and a beta of 0.88. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. UDR, Inc. has a 52 week low of $35.14 and a 52 week high of $47.55.

UDR (NYSE:UDR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share 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, research analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a $0.43 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. UDR’s payout ratio is 688.00%.

Insider Buying and Selling at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the completion of the sale, the chief executive officer now directly owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.73% of the stock is currently owned by insiders.

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.