Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in UDR, Inc. (NYSE:UDR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of UDR, Inc. (NYSE:UDR) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,745 shares of the real estate investment trust’s stock after purchasing an additional 6,721 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in UDR were worth $3,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in UDR by 87.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 669 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of UDR by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust’s stock valued at $233,878,000 after acquiring an additional 403,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of UDR by 0.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,937 shares of the real estate investment trust’s stock valued at $8,804,000 after acquiring an additional 1,658 shares during the period. Everence Capital Management Inc. increased its holdings in shares of UDR by 73.0% in the 4th quarter. Everence Capital Management Inc. now owns 14,880 shares of the real estate investment trust’s stock valued at $570,000 after acquiring an additional 6,280 shares during the period. Finally, Strs Ohio increased its holdings in shares of UDR by 4.6% in the 4th quarter. Strs Ohio now owns 499,193 shares of the real estate investment trust’s stock valued at $19,114,000 after acquiring an additional 21,900 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

UDR Stock Performance

Shares of UDR opened at $37.26 on Wednesday. The stock has a 50-day moving average of $36.60 and a two-hundred day moving average of $35.93. UDR, Inc. has a one year low of $30.95 and a one year high of $44.02. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The stock has a market cap of $12.27 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.96 and a beta of 0.80.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.425 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.56%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s payout ratio is currently 126.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on UDR shares. Morgan Stanley reiterated an “equal weight” rating and issued a $37.00 price target on shares of UDR in a report on Monday, February 26th. Wells Fargo & Company upgraded UDR from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $34.00 to $39.00 in a report on Monday, March 4th. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Mizuho cut their price target on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays downgraded UDR from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.71.

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.