Clearstead Trust LLC Sells 676 Shares of UDR, Inc. (NYSE:UDR)

Clearstead Trust LLC reduced its stake in UDR, Inc. (NYSE:UDR) by 33.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,337 shares of the real estate investment trust’s stock after selling 676 shares during the period. Clearstead Trust LLC’s holdings in UDR were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in UDR during the 4th quarter worth $1,065,482,000. Cohen & Steers Inc. increased its stake in shares of UDR by 3.8% during the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after buying an additional 984,807 shares during the period. Centersquare Investment Management LLC lifted its stake in UDR by 17.7% in the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after acquiring an additional 1,433,463 shares during the period. Daiwa Securities Group Inc. grew its holdings in UDR by 22.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after acquiring an additional 1,359,804 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in UDR by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,128,230 shares of the real estate investment trust’s stock valued at $158,070,000 after purchasing an additional 81,981 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Price Performance

UDR stock traded down $0.11 during trading on Friday, reaching $41.52. The company had a trading volume of 1,044,618 shares, compared to its average volume of 2,149,600. The firm’s 50-day simple moving average is $40.04 and its 200 day simple moving average is $38.04. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $43.67. The firm has a market capitalization of $13.67 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 9.16 and a beta of 0.83. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.09%. The ex-dividend date is Wednesday, July 10th. UDR’s payout ratio is 123.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UDR. Morgan Stanley increased their price objective on shares of UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Mizuho raised their price objective on UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. UBS Group boosted their target price on shares of UDR from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of UDR from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.17.

Insiders Place Their Bets

In other news, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The disclosure for this sale can be found here. 3.73% of the stock is owned by company insiders.

About UDR

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.