Allspring Global Investments Holdings LLC Sells 422 Shares of UDR, Inc. (NYSE:UDR)

Allspring Global Investments Holdings LLC reduced its position in UDR, Inc. (NYSE:UDR) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,621 shares of the real estate investment trust’s stock after selling 422 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UDR were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. CWM LLC lifted its holdings in shares of 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 buying an additional 347 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of UDR by 58.2% in the third quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 367 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of UDR by 0.6% in the second quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after buying an additional 414 shares in the last quarter. Covestor Ltd lifted its holdings in shares of UDR by 18.3% in the first quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 515 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of UDR by 12.4% in the second quarter. V Square Quantitative Management LLC now owns 5,658 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 626 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

UDR Price Performance

Shares of NYSE UDR opened at $41.30 on Friday. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 111.62, a PEG ratio of 9.55 and a beta of 0.85. UDR, Inc. has a 12 month low of $31.75 and a 12 month high of $47.55. The firm’s 50 day simple moving average is $44.68 and its 200-day simple moving average is $41.58. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82.

UDR (NYSE:UDR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a return on equity of 3.49% and a net margin of 7.68%. The firm had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. During the same period in the previous year, the business earned $0.61 EPS. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that UDR, Inc. will post 2.47 EPS for the current year.

UDR Dividend Announcement

The business also recently declared 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 was Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a yield of 4.12%. UDR’s dividend payout ratio is currently 459.47%.

Wall Street Analysts Forecast Growth

UDR has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Wedbush upped their price target on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Royal Bank of Canada decreased their price target on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $45.00 in a research note on Monday, July 15th. Finally, The Goldman Sachs Group started coverage on shares of UDR in a research note on Wednesday, September 4th. They issued a “sell” rating and a $42.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, UDR has a consensus rating of “Hold” and a consensus target price of $44.94.

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.