Nuveen Asset Management LLC Sells 95,607 Shares of UDR, Inc. (NYSE:UDR)

Nuveen Asset Management LLC cut its position in UDR, Inc. (NYSE:UDR) by 9.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 941,011 shares of the real estate investment trust’s stock after selling 95,607 shares during the quarter. Nuveen Asset Management LLC’s holdings in UDR were worth $40,849,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of UDR by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 491 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of UDR during the 4th quarter valued at $63,000. Crews Bank & Trust bought a new stake in shares of UDR during the 4th quarter valued at $76,000. Wingate Wealth Advisors Inc. bought a new stake in shares of UDR during the 4th quarter valued at $87,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of UDR during the 4th quarter valued at $114,000. 97.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UDR has been the subject of a number of recent analyst reports. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Scotiabank upped their price objective on UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Royal Bank of Canada raised their price objective on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Evercore ISI increased their target price on shares of UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Finally, Zelman & Associates restated a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, UDR has a consensus rating of “Hold” and an average price target of $46.69.

UDR Stock Performance

UDR stock opened at $42.00 on Wednesday. The business has a 50 day moving average of $42.18 and a 200-day moving average of $42.93. UDR, Inc. has a 1 year low of $36.61 and a 1 year high of $47.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The company has a market capitalization of $13.91 billion, a P/E ratio of 168.00, a P/E/G ratio of 8.67 and a beta of 0.84.

UDR (NYSE:UDR) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. UDR had a return on equity of 2.65% and a net margin of 5.36%. The company had revenue of $419.84 million during the quarter, compared to the consensus estimate of $421.23 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio is currently 491.43%.

Insider Buying and Selling at UDR

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the sale, the chief executive officer now owns 824,716 shares of the company’s stock, valued at approximately $35,256,609. This represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.39% of the company’s stock.

UDR 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.