Cbre Clarion Securities LLC increased its stake in shares of UDR, Inc. (NYSE:UDR) by 30.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534,894 shares of the real estate investment trust’s stock after buying an additional 361,984 shares during the quarter. UDR comprises approximately 1.3% of Cbre Clarion Securities LLC’s investment portfolio, making the stock its 20th biggest position. Cbre Clarion Securities LLC owned about 0.52% of UDR worth $67,320,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in UDR during the first quarter worth approximately $34,000. Sowell Financial Services LLC boosted its holdings in shares of UDR by 422.7% in the 1st quarter. Sowell Financial Services LLC now owns 784 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 634 shares in the last quarter. Berman Capital Advisors LLC boosted its holdings in shares of UDR by 727.4% in the 1st quarter. Berman Capital Advisors LLC now owns 935 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 822 shares in the last quarter. Mcmillion Capital Management Inc. acquired a new stake in shares of UDR in the 4th quarter valued at $56,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of UDR by 37.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,469 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 399 shares in the last quarter. 98.18% of the stock is currently owned by institutional investors and hedge funds.
UDR stock traded down $0.11 during mid-day trading on Friday, reaching $50.08. 28,852 shares of the company traded hands, compared to its average volume of 1,846,108. The firm has a market cap of $14.87 billion, a PE ratio of 249.91, a price-to-earnings-growth ratio of 5.82 and a beta of 0.75. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 1.70. UDR, Inc. has a fifty-two week low of $29.34 and a fifty-two week high of $50.60. The company has a 50 day simple moving average of $46.34.
The company also recently announced a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Friday, April 9th were given a dividend of $0.3625 per share. The ex-dividend date of this dividend was Thursday, April 8th. This represents a $1.45 annualized dividend and a dividend yield of 2.90%. This is a boost from UDR’s previous quarterly dividend of $0.36. UDR’s dividend payout ratio (DPR) is currently 71.08%.
In other UDR news, CEO Thomas W. Toomey sold 40,000 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $45.53, for a total transaction of $1,821,200.00. Also, CEO Thomas W. Toomey sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $444,000.00. Following the sale, the chief executive officer now directly owns 1,193,726 shares in the company, valued at approximately $53,001,434.40. The disclosure for this sale can be found here. Insiders own 3.68% of the company’s stock.
A number of equities research analysts have weighed in on the company. KeyCorp raised their target price on UDR from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Royal Bank of Canada began coverage on UDR in a report on Tuesday, March 30th. They issued a “sector perform” rating and a $45.00 target price on the stock. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $44.00 in a research note on Thursday, February 11th. Morgan Stanley increased their price target on UDR from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Mizuho increased their price target on UDR from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, March 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.18.
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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