Prudential Financial Inc. Has $129.78 Million Holdings in UDR, Inc. (NYSE:UDR)

Prudential Financial Inc. boosted its position in UDR, Inc. (NYSE:UDR) by 24.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,989,563 shares of the real estate investment trust’s stock after buying an additional 583,126 shares during the period. Prudential Financial Inc.’s holdings in UDR were worth $129,777,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in UDR by 0.4% in the fourth 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. LPL Financial LLC raised its stake in shares of UDR by 8.8% during the fourth quarter. LPL Financial LLC now owns 110,621 shares of the real estate investment trust’s stock valued at $4,802,000 after acquiring an additional 8,931 shares during the last quarter. Fox Run Management L.L.C. bought a new position in UDR in the 4th quarter worth $245,000. KLP Kapitalforvaltning AS bought a new stake in shares of UDR during the fourth quarter valued at approximately $5,044,000. Finally, American Century Companies Inc. boosted its position in shares of UDR by 3.4% in the 4th quarter. American Century Companies Inc. now owns 112,333 shares of the real estate investment trust’s stock worth $4,876,000 after purchasing an additional 3,683 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 824,716 shares in the company, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.73% of the stock is owned by insiders.

Analyst Ratings Changes

UDR has been the topic of a number of research analyst reports. Truist Financial downgraded shares of UDR from a “buy” rating to a “hold” rating and increased their price objective for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Mizuho dropped their price target on UDR from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada increased their price target on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. StockNews.com upgraded UDR from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Scotiabank raised their price target on UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, UDR has an average rating of “Hold” and an average target price of $46.12.

UDR Stock Performance

UDR opened at $43.36 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The company has a market cap of $14.36 billion, a PE ratio of 173.44, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The stock has a 50-day moving average of $42.75 and a 200-day moving average of $43.77. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55.

UDR (NYSE:UDR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. As a group, equities research analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.43 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, April 10th. UDR’s dividend payout ratio (DPR) is currently 688.00%.

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.