Raymond James Financial Inc. Invests $22.66 Million in UDR, Inc. (NYSE:UDR)

Raymond James Financial Inc. bought a new position in shares of UDR, Inc. (NYSE:UDR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 522,035 shares of the real estate investment trust’s stock, valued at approximately $22,662,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its position in shares of UDR by 8.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,330 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 269 shares in the last quarter. Empowered Funds LLC increased its position in shares of UDR by 7.1% during the third quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 350 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 491 shares in the last quarter. IRON Financial LLC boosted its holdings in UDR by 3.0% during the fourth quarter. IRON Financial LLC now owns 17,674 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 511 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in UDR by 62.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 520 shares during the last quarter. 97.84% of the stock is owned by institutional investors.

UDR Stock Performance

Shares of UDR stock opened at $43.27 on Friday. The stock has a market capitalization of $14.33 billion, a P/E ratio of 173.10, a PEG ratio of 8.67 and a beta of 0.88. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. The firm’s 50 day moving average is $42.49 and its 200 day moving average is $43.80. UDR, Inc. has a 12 month low of $35.14 and a 12 month high of $47.55.

UDR (NYSE:UDR) last announced its quarterly earnings results 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, sell-side analysts anticipate that UDR, Inc. will post 2.51 earnings per share for the current 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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio is 680.00%.

Analyst Ratings Changes

Several research firms recently weighed in on UDR. Evercore ISI boosted their price target on shares of UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Scotiabank boosted their price target on shares of UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Wells Fargo & Company cut their price target on shares of UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of UDR from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and boosted their target price for the company from $45.00 to $46.00 in a research note on Monday, March 10th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.12.

Insider Buying and Selling

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 shares were sold at an average price of $42.75, for a total transaction 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 legal filing with the SEC, which is accessible through this hyperlink. 3.73% of the stock is currently owned by insiders.

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.