Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in UDR, Inc. (NYSE:UDR)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in UDR, Inc. (NYSE:UDR - Free Report) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 710,018 shares of the real estate investment trust's stock after buying an additional 86,536 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of UDR worth $30,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of UDR. Brooklyn Investment Group purchased a new position in shares of UDR during the 3rd quarter worth $33,000. Continuum Advisory LLC lifted its position in UDR by 5,335.3% in the third quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 907 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after buying an additional 491 shares during the period. Salem Investment Counselors Inc. increased its position in shares of UDR by 62.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 520 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of UDR in the 4th quarter valued at approximately $63,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

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UDR Price Performance

UDR stock traded down $0.99 on Thursday, reaching $44.37. 953,112 shares of the company's stock were exchanged, compared to its average volume of 2,015,297. UDR, Inc. has a twelve month low of $35.14 and a twelve month high of $47.55. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The stock has a fifty day moving average of $43.32 and a 200-day moving average of $43.73. The firm has a market cap of $14.69 billion, a PE ratio of 177.48, a P/E/G ratio of 8.67 and a beta of 0.88.

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, beating analysts' consensus estimates of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. As a group, equities analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from UDR's previous quarterly dividend of $0.43. UDR's payout ratio is 688.00%.

Insider Buying and Selling

In other UDR 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 completion of the transaction, the chief executive officer now owns 824,716 shares in the company, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Jefferies Financial Group lowered shares of UDR from a "buy" rating to a "hold" rating and cut their price target for the stock from $50.00 to $45.00 in a research note on Thursday, January 2nd. Barclays cut their target price on shares of UDR from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Evercore ISI raised their price target on shares of UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Truist Financial lowered UDR from a "buy" rating to a "hold" rating and upped their price objective for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on UDR from $48.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eleven have assigned 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 a consensus price target of $46.12.

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.