Mirae Asset Global Investments Co. Ltd, a South Korean asset management company, has recently increased its holdings in UDR, Inc by 3.7%. According to Mirae’s most recent 13F filing with the US Securities and Exchange Commission, the institutional investor had 74,719 shares of UDR stock that were worth $2,894,000 at the end of the reporting period.
UDR, Inc is one of the leading real estate investment trusts that focuses on multifamily apartment communities. The trust operates through Same-Store Communities and Non-Mature Communities/Other segments.
Interestingly, UDR recently announced a quarterly dividend increase from $0.38 per share to $0.42 per share in May 2021. The ex-dividend date was Thursday, April 6th which means investors who held stocks until April 10th received the dividend payout of $0.42 per share.
This marks another milestone for investors in UDR as it represents an annualized dividend yield of 4.31% which is a positive change from their previous payout ratio of $0.38.
Despite economic uncertainty and market volatility due to the ongoing pandemic situation worldwide, investors continue to show confidence in UDR’s performance and future prospects. With dividends increasing and large institutional investors such as Mirae Asset Global Investments Co., Ltd increasing their holdings in UDR’s stocks during Q4 last year; it seems like a good time for investors to keep a close eye on this particular real estate investment trust.
In conclusion, with more investors showing interest in UDR’s operations, it will be interesting to see how they continue to operate during these challenging times while keeping their shareholders happy with attractive dividend yields and making smart choices regarding investments into new properties or disposing legacy assets for better returns on their investment portfolios.
Institutional Investors Increase Stakes in US REIT UDR, Inc. Amid Economic Turmoil
UDR, Inc., a real estate investment trust (REIT) based in the United States, has been in the spotlight lately with various institutional investors and hedge funds taking positions in or reducing their stakes in the company. These moves have led to an increase in UDR’s market capitalization, which currently stands at $12.84 billion. As of Friday, UDR opened at $39.00 on the New York Stock Exchange.
According to recent reports, CVA Family Office LLC lifted its position in UDR by 71.7% during the third quarter of last year. This amounted to an additional 355 shares worth $35,000, adding up to a total of 850 shares owned by CVA Family Office LLC. In the fourth quarter of 2020, Romano Brothers AND Company bought a new stake in shares of UDR valued at about $43,000 while Signaturefd LLC raised its holdings by 48.6%, currently owning 1,128 shares of the REIT’s stock worth $44,000 after purchasing an additional 369 shares during that period.
Moreover, Bessemer Group Inc., another institutional investor, raised its holdings by 14.2% in the third quarter amounting to another 274 shares valued at $92,000 while Tobam increased its holdings by 60.3% in the fourth quarter owning a total of roughly 2,473 shares now valued at around $96,000.
As per Bloomberg.com data on ratings and industry analysis reviews available online for investors learning how to invest money profitably and make better investment decisions regarding stocks and other investments types – stocknews.com issued a “hold” rating on UDR’s stock; Barclays upgraded it from hold to overweight with their price target increasing from $44.00 to $50.00; Truist Financial increased their price target from $43.00 to $46.00, while Wolfe Research downgraded UDR’s rating from outperform to peer perform and set a price target of $71.00.
Finally, Robert W. Baird raised their price target from $47.00 to $49.00 and gave the company an “outperform” rating in February this year. Out of eighteen analysts, nine have given a buy rating and another nine have rated the stock as hold, according to Bloomberg.com data on the REIT industry.
UDR’s 50-day simple moving average stands at $40.38 while its 200-day simple moving average is recorded at $40.68. It has a current ratio of 4.91, quick ratio of 4.91, and a debt-to-equity ratio of 1.44, with a beta of 0.76.
Overall, institutional investors’ increased ownership in UDR implies that they foresee relatively strong earnings growth potential for the company in the upcoming years despite economic turmoil caused by COVID-19 constraints crippling both rental markets and forward-looking investments growth models alike within this sector and related industries like real estate developers and construction engineering contractors/subcontractors etc., worldwide affecting markets deeply since Q1 onwards last year (2020).
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