Goldman Sachs Group Inc. Reduces Stock Holdings in UDR, Inc. (NYSE:UDR)

Goldman Sachs Group Inc. lowered its position in UDR, Inc. (NYSE:UDR) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,574,268 shares of the real estate investment trust’s stock after selling 134,922 shares during the quarter. Goldman Sachs Group Inc. owned about 0.48% of UDR worth $60,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Rafferty Asset Management LLC boosted its stake in UDR by 2.8% during the third quarter. Rafferty Asset Management LLC now owns 33,863 shares of the real estate investment trust’s stock worth $1,208,000 after buying an additional 930 shares during the period. Korea Investment CORP boosted its stake in UDR by 2.3% during the third quarter. Korea Investment CORP now owns 105,070 shares of the real estate investment trust’s stock worth $3,748,000 after buying an additional 2,399 shares during the period. Envestnet Asset Management Inc. boosted its stake in UDR by 12.6% during the third quarter. Envestnet Asset Management Inc. now owns 132,409 shares of the real estate investment trust’s stock worth $4,723,000 after buying an additional 14,785 shares during the period. FMR LLC boosted its stake in UDR by 3.4% during the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock worth $430,929,000 after buying an additional 394,581 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in UDR during the third quarter worth about $179,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 14th. Mizuho increased their target price on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their target price on shares of UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Truist Financial reduced their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, 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 research report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, UDR presently has an average rating of “Hold” and a consensus price target of $40.59.

Insider Activity at UDR

In related news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares of the company’s stock, valued at $326,964.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the transaction, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the completion of the transaction, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The disclosure for this sale can be found here. 3.73% of the stock is owned by corporate insiders.

UDR Stock Up 0.7 %

Shares of NYSE:UDR opened at $40.63 on Wednesday. The firm’s 50 day moving average price is $38.47 and its 200 day moving average price is $37.41. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 8.90 and a beta of 0.81. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $44.02. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.70 annualized dividend and a yield of 4.18%. UDR’s dividend payout ratio (DPR) is 123.19%.

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.