New York Life Investment Management LLC Buys 38,335 Shares of UDR, Inc. (NYSE:UDR)

New York Life Investment Management LLC raised its position in shares of UDR, Inc. (NYSE:UDR - Free Report) by 68.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,167 shares of the real estate investment trust's stock after purchasing an additional 38,335 shares during the period. New York Life Investment Management LLC's holdings in UDR were worth $3,606,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its position in UDR by 225.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 754 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of UDR by 87.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 669 shares in the last quarter. Addison Advisors LLC grew its position in UDR by 53.1% during the 4th quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 600 shares during the last quarter. Allworth Financial LP increased its holdings in UDR by 20.1% in the 4th quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 325 shares in the last quarter. Finally, Clearstead Advisors LLC bought a new position in UDR in the third quarter valued at about $85,000. Institutional investors and hedge funds own 97.84% of the company's stock.

UDR Stock Up 1.8 %

Shares of UDR stock traded up $0.66 during trading hours on Friday, reaching $38.23. The company had a trading volume of 2,867,237 shares, compared to its average volume of 3,191,106. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.06 and a beta of 0.79. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 5.15. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $44.02. The business has a fifty day simple moving average of $36.92 and a 200-day simple moving average of $36.02.

UDR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This is a boost from UDR's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.45%. UDR's dividend payout ratio (DPR) is 123.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on UDR. Truist Financial reduced their price target on UDR from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 9th. Wedbush reaffirmed an "outperform" rating and set a $40.00 price target on shares of UDR in a research note on Monday, April 29th. Barclays cut shares of UDR from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Wells Fargo & Company raised UDR from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Finally, Mizuho cut 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. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.44.

UDR Profile

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.