Raymond James Financial Inc. Makes New Investment in UDR, Inc. (NYSE:UDR)

Raymond James Financial Inc. purchased a new stake in UDR, Inc. (NYSE:UDR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 522,035 shares of the real estate investment trust's stock, valued at approximately $22,662,000. Raymond James Financial Inc. owned approximately 0.16% of UDR at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in UDR by 1.5% during the fourth quarter. Arizona State Retirement System now owns 90,987 shares of the real estate investment trust's stock worth $3,950,000 after purchasing an additional 1,358 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in UDR during the fourth quarter worth approximately $2,763,000. Victory Capital Management Inc. lifted its position in shares of UDR by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 100,584 shares of the real estate investment trust's stock worth $4,366,000 after buying an additional 3,394 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of UDR by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust's stock valued at $189,574,000 after buying an additional 95,022 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of UDR by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 491 shares during the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the business'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 completion of the transaction, the chief executive officer now owns 824,716 shares of the company's stock, valued at $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.73% of the stock is owned by insiders.

UDR Price Performance

UDR traded up $0.18 during midday trading on Wednesday, reaching $43.60. 1,182,955 shares of the company's stock were exchanged, compared to its average volume of 2,046,563. UDR, Inc. has a 1-year low of $35.14 and a 1-year high of $47.55. The stock has a market capitalization of $14.44 billion, a PE ratio of 174.40, a P/E/G ratio of 8.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The business's 50-day moving average price is $42.59 and its 200 day moving average price is $43.79.

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

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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. The ex-dividend date is Thursday, April 10th. This represents a $1.72 annualized dividend and a yield of 3.94%. UDR's payout ratio is presently 688.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UDR shares. Truist Financial cut shares of UDR from a "buy" rating to a "hold" rating and boosted their price target for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Evercore ISI upped their target price on UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Mizuho dropped their price target on UDR from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group cut UDR from a "buy" rating to a "hold" rating and reduced their price objective for the company from $50.00 to $45.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on UDR from $48.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, UDR presently has an average rating of "Hold" and a consensus target price of $46.12.

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.