Howland Capital Management LLC Cuts Stock Holdings in UDR, Inc. (NYSE:UDR)

Howland Capital Management LLC lowered its stake in shares of UDR, Inc. (NYSE:UDR) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,455 shares of the real estate investment trust’s stock after selling 938 shares during the quarter. Howland Capital Management LLC’s holdings in UDR were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of UDR. Cerity Partners LLC boosted its stake in UDR by 0.3% in the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock valued at $3,929,000 after acquiring an additional 313 shares in the last quarter. Allworth Financial LP boosted its stake in UDR by 20.1% in the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 325 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its stake in UDR by 2.9% in the first quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 335 shares in the last quarter. Integrity Wealth Solutions LLC boosted its stake in UDR by 8.2% in the first quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 484 shares in the last quarter. Finally, Telos Capital Management Inc. boosted its stake in UDR by 1.6% in the first quarter. Telos Capital Management Inc. now owns 34,759 shares of the real estate investment trust’s stock valued at $1,300,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Analyst Ratings Changes

UDR has been the subject of several analyst reports. Wedbush increased their price target on shares of UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Piper Sandler raised shares of UDR from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of UDR from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Morgan Stanley raised their target price on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company lifted their price target on shares of UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, UDR has an average rating of “Hold” and a consensus target price of $40.71.

UDR Price Performance

Shares of NYSE:UDR opened at $40.65 on Friday. The company has a market cap of $13.39 billion, a PE ratio of 29.43, a P/E/G ratio of 8.96 and a beta of 0.83. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $43.67. The firm has a 50-day simple moving average of $39.76 and a 200 day simple moving average of $37.92. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, July 10th. UDR’s payout ratio is 123.19%.

Insider Buying and Selling at UDR

In other news, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the sale, the chief executive officer now owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the completion of the sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by company insiders.

About UDR

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.