Geode Capital Management LLC Acquires 220,293 Shares of UDR, Inc. (NYSE:UDR)

Geode Capital Management LLC boosted its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,924,151 shares of the real estate investment trust's stock after buying an additional 220,293 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of UDR worth $343,129,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Partners in Financial Planning bought a new stake in shares of UDR in the 4th quarter worth approximately $537,000. O Shaughnessy Asset Management LLC raised its stake in shares of UDR by 21.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 22,068 shares of the real estate investment trust's stock valued at $958,000 after buying an additional 3,965 shares during the period. Schroder Investment Management Group lifted its position in shares of UDR by 7.5% during the 4th quarter. Schroder Investment Management Group now owns 962,310 shares of the real estate investment trust's stock valued at $41,447,000 after buying an additional 67,288 shares during the last quarter. Allstate Corp grew its stake in shares of UDR by 184.5% during the 4th quarter. Allstate Corp now owns 70,157 shares of the real estate investment trust's stock worth $3,046,000 after acquiring an additional 45,499 shares during the period. Finally, DnB Asset Management AS raised its stake in UDR by 5.0% in the 4th quarter. DnB Asset Management AS now owns 51,829 shares of the real estate investment trust's stock valued at $2,250,000 after acquiring an additional 2,482 shares during the period. Hedge funds and other institutional investors own 97.84% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Scotiabank increased their price objective on UDR from $48.00 to $49.00 and gave the stock a "sector perform" rating in a report on Friday, February 14th. Truist Financial cut UDR from a "buy" rating to a "hold" rating and upped their price target for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Barclays reduced their price objective on shares of UDR from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Finally, Wells Fargo & Company lowered their target price on shares of UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, UDR presently has an average rating of "Hold" and a consensus target price of $46.12.

Insider Activity

In other news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer now 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 is accessible through this hyperlink. Insiders own 3.73% of the company's stock.

UDR Trading Down 4.1 %

Shares of UDR stock traded down $1.67 on Thursday, hitting $38.97. 932,425 shares of the company's stock traded hands, compared to its average volume of 2,156,264. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 156.03, a P/E/G ratio of 8.67 and a beta of 0.78. The company's fifty day simple moving average is $43.19 and its 200 day simple moving average is $43.46. UDR, Inc. has a one year low of $35.14 and a one year high of $47.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61.

UDR (NYSE:UDR - Get Free Report) last posted 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 return on equity of 2.65% and a net margin of 5.36%. Equities analysts forecast that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.43 dividend. This is a positive change from UDR's previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, April 10th. UDR's dividend payout ratio (DPR) is currently 688.00%.

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.