Bank of America Corp DE Trims Stock Position in UDR, Inc. (NYSE:UDR)

Bank of America Corp DE lessened its stake in UDR, Inc. (NYSE:UDR) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,611 shares of the real estate investment trust’s stock after selling 457,974 shares during the period. Bank of America Corp DE owned 0.18% of UDR worth $25,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of UDR by 0.4% in the 4th 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 period. Norges Bank purchased a new position in shares of UDR during the fourth quarter worth approximately $1,273,442,000. Capital Research Global Investors increased its holdings in shares of UDR by 64.1% in the 4th quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust’s stock valued at $566,940,000 after acquiring an additional 5,101,668 shares during the period. FMR LLC increased its holdings in shares of UDR by 10.5% in the 4th quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust’s stock valued at $546,639,000 after acquiring an additional 1,191,432 shares during the period. Finally, Geode Capital Management LLC raised its position in UDR by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,924,151 shares of the real estate investment trust’s stock valued at $343,129,000 after purchasing an additional 220,293 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.39% of the stock is currently owned by insiders.

UDR Price Performance

Shares of NYSE UDR opened at $42.43 on Monday. The firm has a market capitalization of $14.06 billion, a P/E ratio of 169.72, a PEG ratio of 8.67 and a beta of 0.84. UDR, Inc. has a one year low of $36.61 and a one year high of $47.55. The company’s fifty day moving average is $42.21 and its two-hundred day moving average is $42.93. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61.

UDR (NYSE:UDR) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $419.84 million during the quarter, compared to analysts’ expectations of $421.23 million. UDR had a net margin of 5.36% and a return on equity of 2.65%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. Analysts forecast that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were paid a $0.43 dividend. This is an increase from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, April 10th. UDR’s dividend payout ratio (DPR) is presently 491.43%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on UDR shares. Scotiabank lifted their price objective on shares of UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Barclays boosted their price target on UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Evercore ISI increased their price objective on UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. StockNews.com upgraded UDR from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Truist Financial cut UDR from a “buy” rating to a “hold” rating and upped their price target for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.69.

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.