KLP Kapitalforvaltning AS Invests $5.04 Million in UDR, Inc. (NYSE:UDR)

KLP Kapitalforvaltning AS purchased a new stake in shares of UDR, Inc. (NYSE:UDR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 116,193 shares of the real estate investment trust’s stock, valued at approximately $5,044,000.

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

Wall Street Analyst Weigh In

UDR has been the topic of a number of recent research 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 note on Monday, March 10th. Wells Fargo & Company cut their price target on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Mizuho decreased their price objective 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 lifted their target price on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lowered shares of UDR from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $45.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued 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.

Insider Activity

In related news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total transaction 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. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.73% of the company’s stock.

UDR Trading Down 0.5 %

UDR stock opened at $44.09 on Wednesday. The stock has a 50-day moving average price of $42.87 and a 200 day moving average price of $43.77. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 176.36, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. UDR, Inc. has a 52 week low of $35.14 and a 52 week high of $47.55. 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 (NYSE:UDR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating 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%. Sell-side analysts anticipate that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio (DPR) is presently 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.