Ken Heebner’s Capital Growth Management’s Portfolio: 5 Dividend Stock Picks

4. UDR, Inc. (NYSE:UDR)

Number of Hedge Fund Holders: 27
Capital Growth Management’s Stake Value: $5,737,000
Dividend Yield as of May 24: 3.21%

UDR, Inc. (NYSE:UDR), an American real estate investment trust, announced solid Q1 2022 results on April 26. The company posted an FFO of $0.55, beating analysts’ expectations by $0.01. In the last two years, the company has beaten FFO estimates 50% of the time.

In Q1 2022, the number of hedge funds tracked by Insider Monkey holding stakes in UDR, Inc. (NYSE:UDR) grew to 27, from 19 in the previous quarter. The total value of these stakes is over $276.6 million, up from $245 million worth of stakes held by hedge funds in Q4 2021.

In March, UDR, Inc. (NYSE:UDR) announced a quarterly dividend of $0.38 per share, having raised it by 4.8% from the prior dividend of $0.36 per share. The stock’s dividend yield, as of May 24, stood at 3.21%. The company did not raise its dividend in 2020 because of the pandemic-related financial disturbance.

In May, Barclays set a $56 price target on UDR, Inc. (NYSE:UDR), with an Overweight rating on the shares, expecting the company to show long-term rent growth. Capital Growth Management reduced its position in UDR, Inc. (NYSE:UDR) by 67% during Q1 2022 and held shares worth over $5.7 million. The company accounted for 0.52% of Ken Heebner’s portfolio.