Mirae Asset Global Investments Co. Ltd. Sells 5,853 Shares of UDR, Inc. (NYSE:UDR)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in UDR, Inc. (NYSE:UDR) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 81,679 shares of the real estate investment trust’s stock after selling 5,853 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in UDR were worth $3,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of UDR in the fourth quarter worth $913,594,000. JPMorgan Chase & Co. grew its holdings in shares of UDR by 30.1% in 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 during the period. Vanguard Group Inc. grew its holdings in shares of UDR by 4.9% in 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 during the period. State Street Corp grew its holdings in shares of UDR by 11.2% in 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 during the period. Finally, Long Pond Capital LP bought a new stake in shares of UDR in the fourth quarter worth $73,433,000. Institutional investors own 97.84% of the company’s stock.

UDR Price Performance

Shares of UDR stock opened at $35.34 on Thursday. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.82 and a beta of 0.80. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.02. The stock’s 50-day simple moving average is $36.49 and its 200-day simple moving average is $35.89.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be given a $0.425 dividend. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Tuesday, April 9th. UDR’s payout ratio is currently 126.87%.

Analyst Upgrades and Downgrades

UDR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 price objective for the company. The Goldman Sachs Group started coverage on UDR in a report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 price target for the company. Wells Fargo & Company raised UDR from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $34.00 to $39.00 in a report on Monday, March 4th. Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $37.00 price target on shares of UDR in a report on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.71.

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.