abrdn plc Trims Stock Holdings in UDR, Inc. (NYSE:UDR)

abrdn plc trimmed its holdings in UDR, Inc. (NYSE:UDR) by 77.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,983 shares of the real estate investment trust’s stock after selling 702,526 shares during the quarter. abrdn plc owned approximately 0.06% of UDR worth $7,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UDR. SG Americas Securities LLC raised its holdings in shares of UDR by 3.9% in the third quarter. SG Americas Securities LLC now owns 50,093 shares of the real estate investment trust’s stock worth $1,787,000 after buying an additional 1,860 shares during the period. Exchange Traded Concepts LLC increased its holdings in UDR by 5.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 299 shares during the period. Czech National Bank increased its holdings in UDR by 44.6% during the 3rd quarter. Czech National Bank now owns 52,979 shares of the real estate investment trust’s stock worth $1,890,000 after purchasing an additional 16,342 shares during the period. Handelsbanken Fonder AB increased its holdings in UDR by 3.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 180,867 shares of the real estate investment trust’s stock worth $6,452,000 after purchasing an additional 5,937 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in UDR by 15.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 101,205 shares of the real estate investment trust’s stock worth $3,610,000 after purchasing an additional 13,500 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UDR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a report on Tuesday, January 30th. They set a “hold” rating and a $40.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and set a $37.00 price objective on shares of UDR in a report on Monday, February 26th. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Mizuho cut their price target on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, UBS Group upgraded UDR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $44.00 in a report on Thursday. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.83.

UDR Price Performance

Shares of UDR stock opened at $37.91 on Friday. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $44.02. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.04 and a beta of 0.80. 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 stock’s 50-day simple moving average is $36.73 and its 200-day simple moving average is $35.96.

UDR Increases Dividend

The firm also recently declared 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. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.48%. UDR’s payout ratio is presently 126.87%.

UDR 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.