Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in UDR, Inc. (NYSE:UDR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of UDR, Inc. (NYSE:UDR) by 13.9% in the 4th quarter, HoldingsChannel reports. The fund owned 710,018 shares of the real estate investment trust’s stock after buying an additional 86,536 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in UDR were worth $30,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prudential Financial Inc. grew its holdings in shares of UDR by 24.2% in the fourth quarter. Prudential Financial Inc. now owns 2,989,563 shares of the real estate investment trust’s stock worth $129,777,000 after purchasing an additional 583,126 shares during the last quarter. Vanguard Group Inc. boosted its position in UDR by 0.4% during 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 buying an additional 180,551 shares during the period. LPL Financial LLC grew its holdings in UDR by 8.8% in the 4th quarter. LPL Financial LLC now owns 110,621 shares of the real estate investment trust’s stock worth $4,802,000 after acquiring an additional 8,931 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of UDR in the fourth quarter valued at about $245,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of UDR during the fourth quarter valued at about $5,044,000. 97.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of UDR 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

UDR has been the topic of several recent analyst reports. Mizuho cut their target price on UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Barclays reduced their target price on UDR from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Scotiabank raised their price target on UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and lifted their price target for the company from $45.00 to $46.00 in a report on Monday, March 10th. Finally, Royal Bank of Canada raised their target price on shares of UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, UDR has an average rating of “Hold” and a consensus price target of $46.12.

UDR Stock Up 0.8 %

UDR stock opened at $44.56 on Friday. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The business has a 50 day moving average of $43.06 and a 200 day moving average of $43.76. UDR, Inc. has a twelve month low of $35.14 and a twelve month high of $47.55. The firm has a market cap of $14.75 billion, a PE ratio of 178.22, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (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 forecast that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.72 annualized dividend and a dividend yield of 3.86%. This is an increase from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio (DPR) is 688.00%.

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.