Cwm LLC boosted its stake in shares of UDR, Inc. (NYSE:UDR – Get Rating) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,447 shares of the real estate investment trust's stock after buying an additional 583 shares during the period. Cwm LLC's holdings in UDR were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Clear Street Markets LLC lifted its holdings in UDR by 412.3% during the second quarter. Clear Street Markets LLC now owns 625 shares of the real estate investment trust's stock worth $29,000 after buying an additional 503 shares during the period. Manning & Napier Group LLC lifted its holdings in UDR by 29.8% during the second quarter. Manning & Napier Group LLC now owns 264,727 shares of the real estate investment trust's stock worth $12,187,000 after buying an additional 60,727 shares during the period. Louisiana State Employees Retirement System purchased a new stake in UDR during the third quarter worth $813,000. Macquarie Group Ltd. lifted its holdings in UDR by 0.4% during the second quarter. Macquarie Group Ltd. now owns 1,185,869 shares of the real estate investment trust's stock worth $54,706,000 after buying an additional 4,775 shares during the period. Finally, Ossiam lifted its holdings in UDR by 6.9% during the second quarter. Ossiam now owns 12,423 shares of the real estate investment trust's stock worth $572,000 after buying an additional 799 shares during the period. Hedge funds and other institutional investors own 92.09% of the company's stock.
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Insiders Place Their Bets
In other news, CEO Thomas W. Toomey sold 20,000 shares of the firm's stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $40.44, for a total transaction of $808,800.00. Following the sale, the chief executive officer now directly owns 984,716 shares in the company, valued at approximately $39,821,915.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.41% of the stock is owned by insiders.
UDR Price Performance
Shares of UDR opened at $40.47 on Wednesday. The business's 50-day moving average is $39.58 and its two-hundred day moving average is $42.40. The company has a market capitalization of $13.17 billion, a P/E ratio of 82.59, a P/E/G ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. UDR, Inc. has a fifty-two week low of $37.18 and a fifty-two week high of $60.01.
UDR Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Monday, January 9th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, January 6th. UDR's dividend payout ratio is currently 310.20%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on UDR. Jefferies Financial Group decreased their price objective on UDR from $55.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, October 19th. KeyCorp decreased their price objective on UDR from $55.00 to $48.00 and set an "overweight" rating for the company in a report on Wednesday, December 7th. Royal Bank of Canada decreased their price objective on UDR from $46.00 to $43.00 and set a "sector perform" rating for the company in a report on Friday, October 28th. Barclays decreased their price objective on UDR from $56.00 to $44.00 and set an "overweight" rating for the company in a report on Thursday, November 10th. Finally, Piper Sandler decreased their price objective on UDR from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Friday, October 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $47.80.
About UDR
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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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