Penserra Capital Management LLC Cuts Stake in UDR, Inc. (NYSE:UDR)

Penserra Capital Management LLC cut its holdings in shares of UDR, Inc. (NYSE:UDR) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,605 shares of the real estate investment trust’s stock after selling 410 shares during the quarter. Penserra Capital Management LLC’s holdings in UDR were worth $707,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Tidal Investments LLC lifted its stake in UDR by 149.7% in the first quarter. Tidal Investments LLC now owns 27,921 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 16,737 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in UDR by 5.1% during the 1st quarter. iA Global Asset Management Inc. now owns 46,325 shares of the real estate investment trust’s stock valued at $1,733,000 after acquiring an additional 2,250 shares during the period. Virtu Financial LLC purchased a new stake in UDR during the 1st quarter valued at about $458,000. Swedbank AB purchased a new position in UDR in the 1st quarter worth approximately $1,607,000. Finally, PGGM Investments increased its stake in UDR by 38.2% in the 1st quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock worth $120,151,000 after purchasing an additional 887,060 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UDR. Piper Sandler raised their target price on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Royal Bank of Canada dropped their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, November 5th. StockNews.com downgraded UDR from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Scotiabank dropped their price objective on UDR from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, UDR has an average rating of “Hold” and a consensus price target of $45.18.

UDR Price Performance

UDR opened at $46.36 on Thursday. The company’s 50-day simple moving average is $44.46 and its two-hundred day simple moving average is $42.47. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. The stock has a market capitalization of $15.30 billion, a P/E ratio of 125.30, a P/E/G 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.

UDR Dividend Announcement

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

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.