Raymond James Financial Inc. Acquires New Position in UDR, Inc. (NYSE:UDR)

Raymond James Financial Inc. bought a new position in UDR, Inc. (NYSE:UDR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 522,035 shares of the real estate investment trust's stock, valued at approximately $22,662,000. Raymond James Financial Inc. owned 0.16% of UDR as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of UDR during the fourth quarter valued at about $1,273,442,000. Invesco Ltd. grew its position in shares of UDR by 92.0% in the 4th quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock worth $327,104,000 after buying an additional 3,609,925 shares during the last quarter. FMR LLC increased its stake in shares of UDR by 10.5% during the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock valued at $546,639,000 after buying an additional 1,191,432 shares during the period. Prudential Financial Inc. raised its holdings in shares of UDR by 24.2% during the fourth quarter. Prudential Financial Inc. now owns 2,989,563 shares of the real estate investment trust's stock valued at $129,777,000 after acquiring an additional 583,126 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 368,087 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UDR shares. Zelman & Associates reaffirmed a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. Truist Financial lowered shares of UDR from a "buy" rating to a "hold" rating and raised their price objective for the stock from $45.00 to $46.00 in a report on Monday, March 10th. Mizuho reduced their target price on UDR from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Scotiabank raised their target price on UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a research note on Friday, February 14th. Finally, Barclays reduced their price target on UDR from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. One investment 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's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $46.12.

Insider Activity at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total value of $1,068,750.00. Following the transaction, the chief executive officer now owns 824,716 shares of the company's stock, valued at approximately $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.39% of the stock is owned by company insiders.

UDR Stock Performance

Shares of NYSE:UDR traded down $0.04 during midday trading on Thursday, reaching $41.76. 428,756 shares of the company's stock traded hands, compared to its average volume of 2,173,549. 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, Inc. has a one year low of $36.61 and a one year high of $47.55. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 166.54, a P/E/G ratio of 8.67 and a beta of 0.78. The stock has a 50 day moving average of $42.84 and a 200 day moving average of $43.17.

UDR (NYSE:UDR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts anticipate 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 $0.43 dividend. This is an increase from UDR's previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, April 10th. UDR's dividend payout ratio (DPR) is 688.00%.

UDR Company 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.