UDR, Inc. (NYSE:UDR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in UDR, Inc. (NYSE:UDR) by 30.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,948 shares of the real estate investment trust’s stock after selling 6,446 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UDR were worth $572,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of UDR by 3.4% in the 3rd quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock valued at $430,929,000 after buying an additional 394,581 shares in the last quarter. Deutsche Bank AG boosted its stake in UDR by 35.9% in the third quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust’s stock valued at $180,722,000 after acquiring an additional 1,339,276 shares in the last quarter. Northern Trust Corp grew its holdings in shares of UDR by 9.9% during the third quarter. Northern Trust Corp now owns 4,744,172 shares of the real estate investment trust’s stock worth $169,225,000 after purchasing an additional 429,114 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UDR by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,046,249 shares of the real estate investment trust’s stock worth $144,330,000 after purchasing an additional 41,465 shares during the last quarter. Finally, Aew Capital Management L P lifted its holdings in shares of UDR by 10.2% in the 3rd quarter. Aew Capital Management L P now owns 2,595,304 shares of the real estate investment trust’s stock valued at $92,574,000 after purchasing an additional 240,227 shares during the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

UDR Stock Performance

NYSE UDR opened at $37.96 on Friday. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $36.70 and its two-hundred day moving average is $35.95. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.98 and a beta of 0.80. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, April 9th. This is a positive change from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio is currently 126.87%.

Wall Street Analyst Weigh In

UDR has been the topic of a number of research reports. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Morgan Stanley restated an “equal weight” rating and set a $37.00 target price on shares of UDR in a research report on Monday, February 26th. The Goldman Sachs Group initiated coverage on shares of UDR in a research report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price target for the company. UBS Group raised shares of UDR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $44.00 in a research report on Thursday. Finally, Mizuho reduced their target price on shares of UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.83.

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.