Citigroup Inc. Trims Holdings in UDR, Inc. (NYSE:UDR)

Citigroup Inc. lessened its stake in UDR, Inc. (NYSE:UDR) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,506 shares of the real estate investment trust’s stock after selling 115,477 shares during the period. Citigroup Inc. owned about 0.09% of UDR worth $13,625,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in UDR by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after acquiring an additional 103,384 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in UDR by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,272,032 shares of the real estate investment trust’s stock worth $193,694,000 after purchasing an additional 117,213 shares in the last quarter. Millennium Management LLC increased its holdings in UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock valued at $143,990,000 after buying an additional 1,874,096 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in UDR by 2.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,982,797 shares of the real estate investment trust’s stock valued at $122,742,000 after buying an additional 76,500 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in UDR by 8,460.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,000 shares of the real estate investment trust’s stock worth $90,680,000 after buying an additional 1,976,637 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Up 0.8 %

UDR stock opened at $46.33 on Friday. The company’s 50-day moving average price is $44.47 and its two-hundred day moving average price is $42.50. The stock has a market cap of $15.29 billion, a price-to-earnings ratio of 125.22, a PEG ratio of 12.64 and a beta of 0.85. UDR, Inc. has a 52 week low of $32.85 and a 52 week high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.67%. UDR’s payout ratio is 459.47%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UDR. BNP Paribas started coverage on UDR in a report on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target for the company. Royal Bank of Canada lowered their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 5th. Piper Sandler raised 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. Wedbush boosted their price objective on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Truist Financial raised their target price on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.18.

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.