Renaissance Technologies LLC Increases Position in UDR, Inc. (NYSE:UDR)

Renaissance Technologies LLC boosted its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 661,436 shares of the real estate investment trust's stock after buying an additional 143,600 shares during the period. Renaissance Technologies LLC owned 0.20% of UDR worth $28,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of UDR. Continuum Advisory LLC raised its position in shares of UDR by 5,335.3% in the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 907 shares during the last quarter. Smartleaf Asset Management LLC increased 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 acquiring an additional 491 shares during the period. Salem Investment Counselors Inc. raised its stake in UDR by 62.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in UDR during the 4th quarter worth about $63,000. Finally, Eastern Bank purchased a new stake in UDR during the 4th quarter valued at about $68,000. Institutional investors own 97.84% of the company's stock.

UDR Stock Performance

NYSE:UDR traded up $0.85 during midday trading on Thursday, reaching $41.72. The stock had a trading volume of 548,590 shares, compared to its average volume of 2,189,529. 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 market cap of $13.82 billion, a P/E ratio of 166.62, a P/E/G ratio of 8.67 and a beta of 0.78. The firm has a fifty day simple moving average of $42.99 and a two-hundred day simple moving average of $43.29. UDR, Inc. has a 12-month low of $35.14 and a 12-month high of $47.55.

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UDR (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 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%. On average, equities analysts expect that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. This is an increase from UDR's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, April 10th. UDR's payout ratio is presently 688.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UDR. Royal Bank of Canada lifted their target price on UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Evercore ISI upped their price objective on shares of UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Mizuho reduced their target price on shares of UDR from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, January 6th. StockNews.com upgraded shares of UDR from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Truist Financial cut UDR from a "buy" rating to a "hold" rating and boosted their price objective for the company from $45.00 to $46.00 in a report on Monday, March 10th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $46.12.

Insider Buying and Selling at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value 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. This represents a 2.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.73% of the stock is owned by corporate insiders.

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.