Kentucky Retirement Systems Reduces Holdings in 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 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cerity Partners LLC grew its holdings in UDR by 0.3% in the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock valued at $3,929,000 after purchasing an additional 313 shares during the period. Allworth Financial LP lifted its position in UDR by 20.1% during the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 325 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its position in shares of UDR by 2.9% during the first quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 335 shares in the last quarter. Integrity Wealth Solutions LLC lifted its position in shares of UDR by 8.2% during the first quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 484 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of UDR by 18.3% during the first quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 515 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on UDR shares. Morgan Stanley upped their price target on shares of UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. Wedbush upped their price target on shares of UDR from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 6th. BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $45.00 in a report on Monday, July 15th. Wells Fargo & Company upped their price target on shares of UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Truist Financial boosted their target price on shares of UDR from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.17.

UDR Stock Performance

UDR stock traded up $0.11 during trading hours on Monday, hitting $41.38. 974,750 shares of the stock were exchanged, compared to its average volume of 2,620,996. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.63 billion, a P/E ratio of 30.06, a P/E/G ratio of 9.10 and a beta of 0.83. The company has a 50-day simple moving average of $40.25 and a two-hundred day simple moving average of $38.16. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $42.42.

UDR Dividend Announcement

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

Insider Transactions at UDR

In other news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction on Friday, June 7th. The stock was 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 of the company’s stock, valued at approximately $33,580,776.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael D. Lacy sold 4,500 shares of the firm’s 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 transaction, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by insiders.

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.