Mesirow Institutional Investment Management Inc. lessened its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,671 shares of the real estate investment trust's stock after selling 10,246 shares during the period. Mesirow Institutional Investment Management Inc.'s holdings in UDR were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in UDR by 68.7% during 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 in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of 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 buying an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of UDR in the 4th quarter worth about $63,000. Eastern Bank purchased a new stake in shares of UDR during the 4th quarter valued at about $68,000. Finally, Crews Bank & Trust purchased a new stake in shares of UDR during the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 97.84% of the company's stock.
Insiders Place Their Bets
In other news, CEO Thomas W. Toomey sold 25,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.39% of the stock is owned by company insiders.
UDR Stock Up 0.8 %
Shares of UDR stock traded up $0.33 during mid-day trading on Wednesday, hitting $41.87. The stock had a trading volume of 1,705,760 shares, compared to its average volume of 2,180,193. UDR, Inc. has a 12-month low of $36.61 and a 12-month high of $47.55. 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 firm's 50-day moving average is $42.86 and its two-hundred day moving average is $43.18. The firm has a market capitalization of $13.87 billion, a P/E ratio of 167.48, a price-to-earnings-growth ratio of 8.67 and a beta of 0.78.
UDR (NYSE:UDR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping 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, analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.
UDR Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.72 dividend on an annualized basis and a yield of 4.11%. This is a positive change from UDR's previous quarterly dividend of $0.43. UDR's dividend payout ratio is currently 688.00%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on UDR. Jefferies Financial Group cut UDR from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $50.00 to $45.00 in a research note on Thursday, January 2nd. Evercore ISI increased their price target on UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Zelman & Associates restated a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. Truist Financial cut shares of 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 research report on Monday, March 10th. Finally, Wells Fargo & Company lowered their target price on shares of 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $46.12.
View Our Latest Stock Analysis on UDR
About UDR
(
Free Report)
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.
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