Clearstead Trust LLC Trims Stock Holdings in UDR, Inc. (NYSE:UDR)

Clearstead Trust LLC lessened its holdings in shares of UDR, Inc. (NYSE:UDR) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,013 shares of the real estate investment trust’s stock after selling 364 shares during the period. Clearstead Trust LLC’s holdings in UDR were worth $77,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in shares of UDR by 225.7% during the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 754 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in UDR by 87.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 669 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of UDR by 53.1% during the 4th quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 600 shares during the period. Allworth Financial LP lifted its stake in shares of UDR by 20.1% in the 4th quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 325 shares during the period. Finally, Clearstead Advisors LLC bought a new stake in UDR during the third quarter valued at approximately $85,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Stock Performance

NYSE:UDR traded up $0.66 during trading hours on Friday, reaching $38.23. The company had a trading volume of 2,867,237 shares, compared to its average volume of 3,191,106. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 5.15. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $44.02. The business’s 50 day moving average price is $36.92 and its 200-day moving average price is $36.02. The firm has a market cap of $12.59 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.06 and a beta of 0.79.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were paid a $0.425 dividend. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Tuesday, April 9th. UDR’s payout ratio is currently 123.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of UDR from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Thursday, February 22nd. They set a “neutral” rating and a $39.00 target price on the stock. Mizuho decreased their price target on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of UDR in a report on Monday, April 29th. Finally, Scotiabank cut shares of UDR from a “sector outperform” rating to a “sector perform” rating and set a $39.00 price objective for the company. in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.44.

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.