ProShare Advisors LLC Has $3.74 Million Holdings in UDR, Inc. (NYSE:UDR)

ProShare Advisors LLC cut its position in shares of UDR, Inc. (NYSE:UDR) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,039 shares of the real estate investment trust’s stock after selling 19,760 shares during the quarter. ProShare Advisors LLC’s holdings in UDR were worth $3,738,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock worth $2,904,527,000 after acquiring an additional 2,353,851 shares in the last quarter. Norges Bank bought a new position in UDR during the fourth quarter worth $913,594,000. State Street Corp boosted its stake in UDR by 11.2% during the first quarter. State Street Corp now owns 22,969,937 shares of the real estate investment trust’s stock worth $943,146,000 after acquiring an additional 2,321,585 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in UDR by 30.1% during the first quarter. JPMorgan Chase & Co. now owns 13,691,188 shares of the real estate investment trust’s stock worth $562,157,000 after acquiring an additional 3,164,948 shares in the last quarter. Finally, FMR LLC boosted its stake in UDR by 3.1% during the first quarter. FMR LLC now owns 11,894,643 shares of the real estate investment trust’s stock worth $488,394,000 after acquiring an additional 354,722 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

UDR Trading Down 0.8 %

Shares of UDR opened at $37.94 on Tuesday. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 2.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.33, a quick ratio of 5.60 and a current ratio of 5.60. UDR, Inc. has a fifty-two week low of $37.18 and a fifty-two week high of $45.46. The firm has a 50 day moving average price of $40.16 and a 200-day moving average price of $40.73.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, October 6th. UDR’s payout ratio is 125.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of UDR from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 19th. Truist Financial raised shares of UDR from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, August 28th. Piper Sandler raised their price objective on shares of UDR from $45.00 to $46.00 in a research note on Friday, July 28th. TheStreet raised shares of UDR from a “c” rating to a “b” rating in a research note on Wednesday, July 26th. Finally, Scotiabank raised shares of UDR from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $44.00 to $45.00 in a research note on Wednesday, August 30th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.91.

About UDR

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.