Franklin Resources Inc. Sells 43,155 Shares of UDR, Inc. (NYSE:UDR)

Franklin Resources Inc. reduced its stake in UDR, Inc. (NYSE:UDR - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 193,486 shares of the real estate investment trust's stock after selling 43,155 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of UDR worth $8,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of UDR by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust's stock worth $2,205,650,000 after buying an additional 180,551 shares during the last quarter. Norges Bank bought a new stake in UDR during the fourth quarter valued at about $1,273,442,000. JPMorgan Chase & Co. grew its position in shares of UDR by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust's stock valued at $352,498,000 after purchasing an additional 368,087 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of UDR by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust's stock worth $189,574,000 after purchasing an additional 95,022 shares during the period. Finally, PGGM Investments grew its holdings in UDR by 7.8% in the 4th quarter. PGGM Investments now owns 3,163,812 shares of the real estate investment trust's stock valued at $137,341,000 after buying an additional 228,342 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Trading Down 2.9 %

Shares of UDR opened at $38.03 on Wednesday. The stock has a fifty day moving average price of $43.21 and a two-hundred day moving average price of $43.51. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 152.10, a PEG ratio of 8.67 and a beta of 0.78. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55.

UDR (NYSE:UDR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.52%. This is a positive change from UDR's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, April 10th. UDR's dividend payout ratio (DPR) is presently 688.00%.

Analysts Set New Price Targets

UDR has been the subject of several research reports. Zelman & Associates reissued a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. Scotiabank raised 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. Barclays lowered their price objective on UDR from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada raised their target price on UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on shares of UDR from $48.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.12.

Check Out Our Latest Stock Report on UDR

Insider Transactions at UDR

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 824,716 shares of the company's stock, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.73% of the stock is currently owned by corporate insiders.

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.

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