PGGM Investments Increases Holdings in UDR, Inc. (NYSE:UDR)

PGGM Investments grew its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,324,664 shares of the real estate investment trust's stock after acquiring an additional 720,423 shares during the quarter. UDR accounts for approximately 1.4% of PGGM Investments' investment portfolio, making the stock its 19th largest position. PGGM Investments owned 0.71% of UDR worth $89,011,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UDR. Parkside Financial Bank & Trust raised its stake in 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 worth $39,000 after acquiring an additional 754 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of UDR by 87.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 669 shares during the period. Addison Advisors LLC increased its stake in shares of UDR by 53.1% in the fourth 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 increased its stake in shares of UDR by 20.1% in the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust's stock valued at $74,000 after buying an additional 325 shares during the period. Finally, Clearstead Advisors LLC acquired a new position in shares of UDR in the third quarter valued at approximately $85,000. Institutional investors and hedge funds own 97.84% of the company's stock.

UDR Trading Down 0.2 %

Shares of UDR stock traded down $0.06 on Friday, reaching $37.91. 2,117,561 shares of the company's stock were exchanged, compared to its average volume of 2,635,260. UDR, Inc. has a 52 week low of $30.95 and a 52 week high of $44.02. The firm's 50-day moving average is $36.73 and its two-hundred day moving average is $35.96. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The company has a market capitalization 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.

UDR Increases Dividend

The company also recently announced 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 is a boost from UDR's previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, April 9th. UDR's dividend payout ratio (DPR) is currently 126.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised UDR from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $34.00 to $39.00 in a research note on Monday, March 4th. Truist Financial reduced their target price on UDR from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 9th. UBS Group upgraded UDR from a "neutral" rating to a "buy" rating and upped their target price for the company from $38.00 to $44.00 in a report on Thursday. Piper Sandler upgraded UDR from an "underweight" rating to a "neutral" rating and upped their target price for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Finally, Mizuho reduced their target price on UDR from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, UDR has an average rating of "Hold" and a consensus price target of $41.83.

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.