Maryland State Retirement & Pension System Reduces Holdings in UDR, Inc. (NYSE:UDR)

Maryland State Retirement & Pension System lowered its position in UDR, Inc. (NYSE:UDR) by 6.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,526 shares of the real estate investment trust’s stock after selling 1,227 shares during the period. Maryland State Retirement & Pension System’s holdings in UDR were worth $761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in shares of UDR in the third quarter worth about $33,000. Continuum Advisory LLC raised its holdings in UDR by 5,335.3% in the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 907 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in UDR by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 491 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of UDR by 62.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 520 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of UDR in the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction 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 the SEC website. 3.73% of the stock is currently owned by company insiders.

UDR Stock Performance

Shares of UDR stock opened at $44.35 on Tuesday. The firm has a 50 day moving average of $42.82 and a two-hundred day moving average of $43.77. The stock has a market capitalization of $14.68 billion, a PE ratio of 177.38, 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 released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, topping the consensus estimate of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. On average, research analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a $0.43 dividend. This is a boost from UDR’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.72 annualized dividend and a yield of 3.88%. UDR’s dividend payout ratio (DPR) is 688.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UDR shares. Evercore ISI boosted their price objective on UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. StockNews.com raised shares of UDR from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Mizuho reduced their target price on shares of UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $46.00 in a research note on Monday, March 10th. Finally, Royal Bank of Canada upped their price objective on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.12.

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.