Handelsbanken Fonder AB Raises Stock Position in UDR, Inc. (NYSE:UDR)

Handelsbanken Fonder AB increased its stake in UDR, Inc. (NYSE:UDR) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,791 shares of the real estate investment trust’s stock after purchasing an additional 7,924 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of UDR worth $7,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UDR. Deutsche Bank AG boosted its holdings in UDR by 35.9% in the third quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust’s stock worth $180,722,000 after purchasing an additional 1,339,276 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in UDR in the third quarter worth approximately $45,428,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in UDR by 79.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock worth $70,087,000 after acquiring an additional 809,273 shares during the period. Adage Capital Partners GP L.L.C. raised its position in UDR by 232.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 736,386 shares of the real estate investment trust’s stock worth $26,267,000 after acquiring an additional 515,180 shares during the period. Finally, Northern Trust Corp raised its position in UDR by 9.9% in the third quarter. Northern Trust Corp now owns 4,744,172 shares of the real estate investment trust’s stock worth $169,225,000 after acquiring an additional 429,114 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

Shares of NYSE UDR opened at $37.89 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The company has a market cap of $12.48 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.98 and a beta of 0.80. The firm’s fifty day moving average is $36.66 and its two-hundred day moving average is $35.94. UDR, Inc. has a 52-week low of $30.95 and a 52-week high of $44.02.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a $0.425 dividend. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Tuesday, April 9th. UDR’s payout ratio is currently 126.87%.

Analyst Upgrades and Downgrades

UDR has been the topic of several recent research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $37.00 price target on shares of UDR in a research report on Monday, February 26th. Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $34.00 to $40.00 in a research report on Wednesday, April 10th. Mizuho decreased 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. Truist Financial decreased 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. Finally, Barclays downgraded shares of UDR from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $46.00 to $37.00 in a research report on Tuesday, February 20th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.71.

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.