Duff & Phelps Investment Management Co. Reduces Position in UDR, Inc. (NYSE:UDR)

Duff & Phelps Investment Management Co. trimmed its position in UDR, Inc. (NYSE:UDR - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,761,750 shares of the real estate investment trust's stock after selling 691,770 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.54% of UDR worth $67,457,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of UDR. Van ECK Associates Corp lifted its position in shares of UDR by 14.5% in the fourth quarter. Van ECK Associates Corp now owns 128,798 shares of the real estate investment trust's stock valued at $4,932,000 after buying an additional 16,289 shares during the last quarter. PGGM Investments boosted its position in UDR by 44.9% during the fourth quarter. PGGM Investments now owns 2,324,664 shares of the real estate investment trust's stock worth $89,011,000 after purchasing an additional 720,423 shares during the period. Addison Advisors LLC increased its holdings 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 purchasing an additional 600 shares during the last quarter. Aew Capital Management L P raised its holdings in UDR by 0.3% in the 4th quarter. Aew Capital Management L P now owns 2,601,811 shares of the real estate investment trust's stock valued at $99,623,000 after acquiring an additional 6,507 shares during the period. Finally, Schnieders Capital Management LLC bought a new position in UDR in the 4th quarter valued at about $223,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Price Performance

Shares of UDR stock traded down $0.21 during midday trading on Tuesday, hitting $38.08. 3,264,666 shares of the company traded hands, compared to its average volume of 2,946,120. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.03 and a beta of 0.80. 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 firm's fifty day moving average price is $36.78 and its 200-day moving average price is $35.97. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $44.02.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from UDR's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 4.46%. UDR's dividend payout ratio is 126.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on UDR in a report on Tuesday, January 30th. They set a "hold" rating and a $40.00 price objective for 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 report on Monday, March 4th. Piper Sandler raised shares of UDR from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. The Goldman Sachs Group initiated coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a "neutral" rating and a $39.00 price target on the stock. Finally, UBS Group raised shares of UDR from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $38.00 to $44.00 in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $41.78.

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.