Kentucky Retirement Systems Sells 1,231 Shares of UDR, Inc. (NYSE:UDR)

Kentucky Retirement Systems reduced its holdings in shares of UDR, Inc. (NYSE:UDR) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,981 shares of the real estate investment trust’s stock after selling 1,231 shares during the quarter. Kentucky Retirement Systems’ holdings in UDR were worth $860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Magnetar Financial LLC acquired a new stake in UDR during the 1st quarter worth approximately $301,000. Canada Pension Plan Investment Board grew its position in UDR by 2.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,906,297 shares of the real estate investment trust’s stock worth $108,725,000 after acquiring an additional 76,000 shares during the last quarter. Capital Research Global Investors bought a new stake in UDR during the 1st quarter worth $176,137,000. MQS Management LLC bought a new stake in shares of UDR in the 1st quarter valued at about $907,000. Finally, Natixis grew its position in shares of UDR by 22.0% in the 1st quarter. Natixis now owns 33,071 shares of the real estate investment trust’s stock valued at $1,237,000 after buying an additional 5,966 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors.

UDR Stock Up 0.3 %

NYSE UDR traded up $0.11 during mid-day trading on Monday, reaching $41.38. The stock had a trading volume of 974,750 shares, compared to its average volume of 2,620,996. UDR, Inc. has a 1 year low of $30.95 and a 1 year high of $42.42. The stock has a market cap of $13.63 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 9.10 and a beta of 0.83. The company has a fifty day moving average price of $40.25 and a 200 day moving average price of $38.16. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 6.61.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, July 10th. UDR’s dividend payout ratio is currently 123.19%.

Insiders Place Their Bets

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now owns 8,566 shares in the company, valued at approximately $326,964.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were 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 directly owns 849,716 shares in the company, valued at approximately $33,580,776.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael D. Lacy sold 4,500 shares of the 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 in the company, valued at $326,964.22. The disclosure for this sale can be found here. Corporate insiders own 3.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UDR shares. Morgan Stanley upped their price target on UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Wells Fargo & Company boosted their price objective on UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Truist Financial upped their price target on UDR from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Finally, Wedbush upped their target price on UDR from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.17.

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.