Sumitomo Mitsui Trust Holdings Inc. Raises Position in UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui Trust Holdings Inc. raised its position in UDR, Inc. (NYSE:UDR - Free Report) by 79.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,830,437 shares of the real estate investment trust's stock after acquiring an additional 809,273 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.56% of UDR worth $70,087,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in UDR by 4.9% in the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust's stock valued at $2,904,527,000 after acquiring an additional 2,353,851 shares during the period. Norges Bank purchased a new position in shares of UDR during the fourth quarter valued at approximately $913,594,000. State Street Corp boosted its position in shares of UDR by 11.2% during the first quarter. State Street Corp now owns 22,969,937 shares of the real estate investment trust's stock valued at $943,146,000 after buying an additional 2,321,585 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of UDR by 30.1% during the first quarter. JPMorgan Chase & Co. now owns 13,691,188 shares of the real estate investment trust's stock valued at $562,157,000 after buying an additional 3,164,948 shares during the last quarter. Finally, FMR LLC boosted its position in shares of UDR by 3.4% during the third 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 during the last quarter. Institutional investors and hedge funds own 97.84% of the company's stock.

UDR Stock Performance

Shares of UDR traded up $0.43 during mid-day trading on Thursday, hitting $35.78. The stock had a trading volume of 3,354,625 shares, compared to its average volume of 2,969,695. The firm has a market cap of $11.78 billion, a P/E ratio of 26.70, a PEG ratio of 2.82 and a beta of 0.80. The business has a fifty day moving average price of $36.50 and a 200-day moving average price of $35.89. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.02.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be paid a $0.425 dividend. 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. This represents a $1.70 annualized dividend and a dividend yield of 4.75%. UDR's payout ratio is presently 126.87%.

Analysts Set New Price Targets

UDR has been the topic of several analyst reports. Truist Financial cut their target price on UDR from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. The Goldman Sachs Group initiated coverage on UDR in a research report on Thursday, February 22nd. They set a "neutral" rating and a $39.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a research report on Tuesday, January 30th. They set a "hold" rating and a $40.00 target price on the stock. Wells Fargo & Company upgraded UDR from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $34.00 to $39.00 in a report on Monday, March 4th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $37.00 price target on shares of UDR in a report on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.71.

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.