CANADA LIFE ASSURANCE Co Increases Stake in UDR, Inc. (NYSE:UDR)

CANADA LIFE ASSURANCE Co increased its position in shares of UDR, Inc. (NYSE:UDR) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 491,066 shares of the real estate investment trust’s stock after buying an additional 24,492 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in UDR were worth $21,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of UDR by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust’s stock valued at $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. Norges Bank acquired a new position in shares of UDR during the fourth quarter worth $1,273,442,000. FMR LLC increased its holdings in UDR by 10.5% in the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust’s stock valued at $546,639,000 after buying an additional 1,191,432 shares during the last quarter. Geode Capital Management LLC raised its stake in UDR by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 7,924,151 shares of the real estate investment trust’s stock valued at $343,129,000 after buying an additional 220,293 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in UDR by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock worth $352,498,000 after buying an additional 368,087 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Price Performance

UDR stock opened at $41.27 on Friday. The business has a 50 day simple moving average of $42.93 and a 200-day simple moving average of $43.23. UDR, Inc. has a 12 month low of $36.28 and a 12 month high of $47.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The stock has a market capitalization of $13.67 billion, a PE ratio of 165.08, a price-to-earnings-growth ratio of 8.67 and a beta of 0.78.

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 net margin of 5.36% and a return on equity of 2.65%. Equities analysts predict that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.43 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.17%. UDR’s payout ratio is 688.00%.

Wall Street Analysts Forecast Growth

UDR has been the subject of several recent analyst reports. Barclays decreased their target price on UDR from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group cut shares of UDR from a “buy” rating to a “hold” rating and lowered their target price for the company from $50.00 to $45.00 in a report on Thursday, January 2nd. Truist Financial lowered shares of UDR from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. Royal Bank of Canada upped their price objective on shares of UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company reduced their target price on UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.12.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the firm’s stock in a transaction on 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 owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.73% of the stock is currently owned by corporate 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.