Sumitomo Mitsui Trust Group Inc. Decreases Holdings in UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of UDR, Inc. (NYSE:UDR) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266,185 shares of the real estate investment trust’s stock after selling 17,804 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.69% of UDR worth $102,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP acquired a new stake in shares of UDR in the first quarter valued at about $886,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of UDR by 370.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 222,940 shares of the real estate investment trust’s stock valued at $8,340,000 after buying an additional 175,566 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of UDR by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 375,172 shares of the real estate investment trust’s stock valued at $15,405,000 after buying an additional 18,570 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of UDR by 22.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 597,502 shares of the real estate investment trust’s stock valued at $22,353,000 after buying an additional 111,334 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in shares of UDR by 17.7% in the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock valued at $363,688,000 after buying an additional 1,433,463 shares during the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Trading Up 2.1 %

Shares of UDR stock opened at $45.18 on Thursday. The company has a 50-day moving average of $44.61 and a two-hundred day moving average of $41.99. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. UDR, Inc. has a 1-year low of $32.37 and a 1-year high of $47.55. The firm has a market cap of $14.91 billion, a PE ratio of 122.54, a price-to-earnings-growth ratio of 12.29 and a beta of 0.85.

UDR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Thursday, October 10th. UDR’s payout ratio is 459.47%.

Wall Street Analysts Forecast Growth

UDR has been the subject of a number of recent research reports. Wedbush increased their target price on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. UBS Group raised their price objective on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Truist Financial raised their price objective on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada cut their price objective on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.24.

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.