Korea Investment CORP Sells 8,700 Shares of UDR, Inc. (NYSE:UDR)

Korea Investment CORP reduced its position in UDR, Inc. (NYSE:UDR) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,964 shares of the real estate investment trust’s stock after selling 8,700 shares during the quarter. Korea Investment CORP’s holdings in UDR were worth $6,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in UDR by 24.2% in the fourth quarter. Prudential Financial Inc. now owns 2,989,563 shares of the real estate investment trust’s stock valued at $129,777,000 after acquiring an additional 583,126 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of UDR by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust’s stock valued at $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. LPL Financial LLC raised its holdings in shares of UDR by 8.8% during the 4th quarter. LPL Financial LLC now owns 110,621 shares of the real estate investment trust’s stock worth $4,802,000 after buying an additional 8,931 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of UDR during the 4th quarter worth $245,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in UDR in the fourth quarter valued at about $5,044,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Stock Performance

Shares of UDR stock opened at $45.19 on Tuesday. The firm has a 50 day moving average of $43.14 and a 200-day moving average of $43.74. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 180.78, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. UDR, Inc. has a 52 week low of $35.14 and a 52 week high of $47.55.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, equities analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Thursday, April 10th. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s payout ratio is 688.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UDR. StockNews.com raised UDR from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Mizuho cut their target price on shares of UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Jefferies Financial Group downgraded UDR from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $45.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.12.

Insiders Place Their Bets

In related news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total value of $1,068,750.00. Following the sale, the chief executive officer now owns 824,716 shares in the company, valued at $35,256,609. This represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.73% 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.