Dover Advisors LLC Has $2.96 Million Stock Holdings in UDR, Inc. (NYSE:UDR)

Dover Advisors LLC cut its stake in shares of UDR, Inc. (NYSE:UDR) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,212 shares of the real estate investment trust’s stock after selling 24,197 shares during the quarter. UDR makes up approximately 3.9% of Dover Advisors LLC’s portfolio, making the stock its 3rd biggest position. Dover Advisors LLC’s holdings in UDR were worth $2,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. PGGM Investments boosted its stake in shares of UDR by 44.9% in the 4th quarter. PGGM Investments now owns 2,324,664 shares of the real estate investment trust’s stock valued at $89,011,000 after purchasing an additional 720,423 shares during the last quarter. Addison Advisors LLC grew its holdings in UDR by 53.1% during the 4th quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 600 shares during the period. Aew Capital Management L P grew its holdings in UDR by 0.3% during the 4th quarter. Aew Capital Management L P now owns 2,601,811 shares of the real estate investment trust’s stock worth $99,623,000 after acquiring an additional 6,507 shares during the period. Schnieders Capital Management LLC bought a new position in shares of UDR in the 4th quarter worth about $223,000. Finally, GAMMA Investing LLC acquired a new position in shares of UDR in the 4th quarter valued at about $183,000. Institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UDR shares. Truist Financial lowered their target price on UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Mizuho cut their target price on shares of UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price target for the company. Wells Fargo & Company upgraded UDR from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $34.00 to $39.00 in a research note on Monday, March 4th. Finally, UBS Group upgraded UDR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $44.00 in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.83.

UDR Stock Performance

UDR traded down $0.06 during trading on Friday, hitting $37.91. 2,117,561 shares of the company traded hands, compared to its average volume of 2,635,260. The firm has a market cap of $12.48 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR, Inc. has a one year low of $30.95 and a one year high of $44.02. The stock’s fifty day moving average is $36.73 and its 200 day moving average is $35.96.

UDR Increases Dividend

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

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.