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

Dover Advisors LLC cut its position in UDR, Inc. (NYSE:UDR - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,212 shares of the real estate investment trust's stock after selling 24,197 shares during the period. UDR comprises about 3.9% of Dover Advisors LLC's portfolio, making the stock its 3rd largest position. Dover Advisors LLC's holdings in UDR were worth $2,956,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG lifted its stake in shares of UDR by 35.9% during the 3rd quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust's stock worth $180,722,000 after buying an additional 1,339,276 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in UDR during the 3rd quarter worth approximately $45,428,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in UDR by 79.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust's stock worth $70,087,000 after acquiring an additional 809,273 shares during the last quarter. 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. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of UDR by 232.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 736,386 shares of the real estate investment trust's stock valued at $26,267,000 after purchasing an additional 515,180 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Price Performance

Shares of UDR traded down $0.06 during trading hours on Friday, hitting $37.91. 2,117,561 shares of the stock were exchanged, compared to its average volume of 2,635,260. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. The stock's 50-day moving average price is $36.73 and its two-hundred day moving average price is $35.96.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, April 9th. This is a positive change from UDR's previous quarterly dividend of $0.42. UDR's dividend payout ratio is 126.87%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UDR shares. The Goldman Sachs Group began coverage on shares of UDR in a report on Thursday, February 22nd. They set a "neutral" rating and a $39.00 price objective on the stock. UBS Group raised shares of UDR from a "neutral" rating to a "buy" rating and increased their price target for the stock from $38.00 to $44.00 in a report on Thursday. Barclays downgraded shares of UDR from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $46.00 to $37.00 in a research note on Tuesday, February 20th. Mizuho decreased their price target 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. Finally, Truist Financial cut their target price on shares of UDR from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 9th. Eleven 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 stock presently has an average rating of "Hold" and an average 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.