Mackenzie Financial Corp Sells 3,471 Shares of UDR, Inc. (NYSE:UDR)

Mackenzie Financial Corp lessened its holdings in shares of UDR, Inc. (NYSE:UDR) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,915 shares of the real estate investment trust’s stock after selling 3,471 shares during the quarter. Mackenzie Financial Corp’s holdings in UDR were worth $1,031,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in shares of UDR by 225.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 754 shares during the period. Allworth Financial LP increased its stake in shares of UDR by 20.1% in the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 325 shares during the period. Clearstead Advisors LLC bought a new position in shares of UDR during the third quarter valued at about $85,000. V Square Quantitative Management LLC bought a new position in shares of UDR during the third quarter valued at approximately $179,000. Finally, Derbend Asset Management purchased a new stake in shares of UDR in the 4th quarter worth about $210,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UDR. The Goldman Sachs Group assumed coverage on shares of UDR in a research report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a research note on Tuesday, January 30th. They issued a “hold” rating and a $40.00 target price on the stock. Barclays downgraded shares of UDR from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $46.00 to $37.00 in a research report on Tuesday, February 20th. Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Finally, Mizuho lowered their price objective on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.71.

UDR Stock Up 1.7 %

Shares of UDR opened at $37.89 on Thursday. The business’s 50 day moving average is $36.66 and its 200 day moving average is $35.94. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The company has a market capitalization of $12.48 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.98 and a beta of 0.80.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be given a dividend of $0.425 per share. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.49%. UDR’s dividend payout ratio is currently 126.87%.

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.