The Manufacturers Life Insurance Company Decreases Stake in UDR, Inc. (NYSE:UDR)

The Manufacturers Life Insurance Company trimmed its holdings in shares of UDR, Inc. (NYSE:UDR) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 277,221 shares of the real estate investment trust’s stock after selling 1,221 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of UDR worth $12,569,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in UDR by 149.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,494 shares of the real estate investment trust’s stock valued at $249,000 after acquiring an additional 3,292 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of UDR by 2.3% during the third quarter. Daiwa Securities Group Inc. now owns 7,109,980 shares of the real estate investment trust’s stock worth $322,366,000 after purchasing an additional 159,625 shares during the last quarter. Algert Global LLC acquired a new position in UDR in the third quarter worth about $442,000. Cerity Partners LLC increased its holdings in UDR by 0.6% in the third quarter. Cerity Partners LLC now owns 128,712 shares of the real estate investment trust’s stock valued at $5,836,000 after buying an additional 798 shares during the last quarter. Finally, Activest Wealth Management bought a new position in UDR during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Trading Down 1.2 %

Shares of NYSE:UDR opened at $45.31 on Tuesday. The stock’s 50-day moving average is $44.45 and its 200-day moving average is $42.63. UDR, Inc. has a 52-week low of $33.99 and a 52-week high of $47.55. The company has a market cap of $14.95 billion, a P/E ratio of 122.46, a P/E/G ratio of 12.72 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.75%. UDR’s payout ratio is 459.46%.

Analyst Ratings Changes

Several research firms recently issued reports on UDR. Wedbush upped their price target on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Scotiabank cut their price target on UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Piper Sandler boosted their price target on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, UDR presently has an average rating of “Hold” and an average price target of $45.18.

UDR Company 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.