California State Teachers Retirement System Sells 15,866 Shares of UDR, Inc. (NYSE:UDR)

California State Teachers Retirement System trimmed its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,120 shares of the real estate investment trust's stock after selling 15,866 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of UDR worth $20,321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of UDR. Smartleaf Asset Management LLC boosted its position in UDR by 68.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 491 shares during the last quarter. Continuum Advisory LLC lifted its holdings in UDR by 38.0% during the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 351 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of UDR in the fourth quarter valued at approximately $63,000. Crews Bank & Trust purchased a new position in UDR in the 4th quarter valued at $76,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of UDR in the fourth quarter worth about $87,000. Hedge funds and other institutional investors own 97.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on UDR. Evercore ISI boosted their price target on shares of UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Mizuho cut their price target on UDR from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Truist Financial lowered shares of UDR from a "buy" rating to a "hold" rating and lifted their price objective for the company from $45.00 to $46.00 in a research note on Monday, March 10th. Royal Bank of Canada boosted their price objective on shares of UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Finally, Barclays upped their target price on shares of UDR from $48.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.44.

UDR Stock Down 1.3%

Shares of UDR traded down $0.53 during trading hours on Tuesday, reaching $40.88. The stock had a trading volume of 468,392 shares, compared to its average volume of 2,153,128. UDR, Inc. has a 12 month low of $36.61 and a 12 month high of $47.55. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 163.52, a P/E/G ratio of 8.67 and a beta of 0.84. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. The firm has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $42.71.

UDR (NYSE:UDR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting analysts' consensus estimates of $0.61. UDR had a net margin of 5.36% and a return on equity of 2.65%. The company had revenue of $419.84 million for the quarter, compared to analysts' expectations of $421.23 million. During the same quarter in the previous year, the firm posted $0.61 EPS. UDR's revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.21%. This is a positive change from UDR's previous quarterly dividend of $0.43. UDR's dividend payout ratio (DPR) is currently 491.43%.

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.