Principal Financial Group Inc. Trims Position in UDR, Inc. (NYSE:UDR)

Principal Financial Group Inc. cut its stake in UDR, Inc. (NYSE:UDR) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 351,832 shares of the real estate investment trust’s stock after selling 17,338 shares during the period. Principal Financial Group Inc. owned 0.11% of UDR worth $15,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its holdings in UDR by 10.0% in the third quarter. CWM LLC now owns 3,802 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 347 shares in the last quarter. Empowered Funds LLC increased its stake in shares of UDR by 7.1% during the third quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 350 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of UDR by 58.2% during the third quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 367 shares during the last quarter. Truist Financial Corp boosted its position in shares of UDR by 0.6% in the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after purchasing an additional 414 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its stake in shares of UDR by 8.2% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

NYSE UDR opened at $43.41 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. UDR, Inc. has a 1-year low of $34.19 and a 1-year high of $47.55. The business has a 50 day simple moving average of $44.25 and a two-hundred day simple moving average of $43.25. The stock has a market capitalization of $14.32 billion, a PE ratio of 117.33, a P/E/G ratio of 12.34 and a beta of 0.87.

UDR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 9th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.92%. UDR’s payout ratio is currently 459.46%.

Analysts Set New Price Targets

Several analysts recently commented on UDR shares. JPMorgan Chase & Co. increased their price objective on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Scotiabank lowered their price objective on UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Barclays initiated coverage on shares of UDR in a report on Tuesday, December 17th. They set an “overweight” rating and a $50.00 price target on the stock. The Goldman Sachs Group started coverage on UDR in a report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target on the stock. Finally, StockNews.com upgraded UDR from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.00.

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.