OVERSEA CHINESE BANKING Corp Ltd Has $4.61 Million Stock Position in UDR, Inc. (NYSE:UDR)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of UDR, Inc. (NYSE:UDR) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,273 shares of the real estate investment trust’s stock after selling 12,555 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in UDR were worth $4,605,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock valued at $2,904,527,000 after buying an additional 2,353,851 shares during the last quarter. Norges Bank bought a new position in shares of UDR during the fourth quarter valued at about $913,594,000. State Street Corp lifted its position in shares of UDR by 11.2% during the first quarter. State Street Corp now owns 22,969,937 shares of the real estate investment trust’s stock valued at $943,146,000 after purchasing an additional 2,321,585 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of UDR by 30.1% during the first quarter. JPMorgan Chase & Co. now owns 13,691,188 shares of the real estate investment trust’s stock valued at $562,157,000 after purchasing an additional 3,164,948 shares in the last quarter. Finally, FMR LLC lifted its position in shares of UDR by 3.4% during the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock valued at $430,929,000 after purchasing an additional 394,581 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UDR has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of UDR in a research report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 price target on the stock. Truist Financial dropped their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Barclays lowered shares of UDR from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $46.00 to $37.00 in a research report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UDR in a research report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Piper Sandler raised shares of UDR from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $34.00 to $40.00 in a research report on Wednesday, April 10th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, UDR presently has an average rating of “Hold” and an average price target of $41.71.

UDR Price Performance

NYSE:UDR traded up $0.62 during mid-day trading on Friday, hitting $36.40. 3,671,118 shares of the stock traded hands, compared to its average volume of 2,506,345. The business’s 50-day moving average price is $36.52 and its 200 day moving average price is $35.90. The company has a market cap of $11.99 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.91 and a beta of 0.80. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.70 annualized dividend and a yield of 4.67%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s 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.