Tower Bridge Advisors Sells 300 Shares of UDR, Inc. (NYSE:UDR)

Tower Bridge Advisors reduced its position in UDR, Inc. (NYSE:UDR) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,800 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Tower Bridge Advisors’ holdings in UDR were worth $218,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of UDR. Vanguard Group Inc. raised its stake in shares of UDR by 0.5% during the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after acquiring an additional 233,475 shares in the last quarter. Simplicity Wealth LLC bought a new stake in UDR in the second quarter valued at $2,135,000. Bessemer Group Inc. boosted its holdings in shares of UDR by 2,250.3% during the 1st quarter. Bessemer Group Inc. now owns 37,416 shares of the real estate investment trust’s stock valued at $1,399,000 after buying an additional 35,824 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in shares of UDR by 64.6% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust’s stock valued at $54,148,000 after buying an additional 567,878 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of UDR by 149.7% during the 1st quarter. Tidal Investments LLC now owns 27,921 shares of the real estate investment trust’s stock valued at $1,045,000 after buying an additional 16,737 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

UDR Price Performance

Shares of UDR stock opened at $44.31 on Monday. UDR, Inc. has a 1-year low of $32.37 and a 1-year high of $47.55. The stock’s 50-day moving average is $44.63 and its 200 day moving average is $42.10. The company has a market cap of $14.62 billion, a P/E ratio of 119.76, a PEG ratio of 12.30 and a beta of 0.85. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio is presently 459.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on UDR shares. Scotiabank lowered their price target on UDR from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Thursday. Piper Sandler boosted their target price on UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Wells Fargo & Company boosted their target price on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI upped their price target on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.