Cibc World Markets Corp Raises Stock Holdings in UDR, Inc. (NYSE:UDR)

Cibc World Markets Corp raised its position in shares of UDR, Inc. (NYSE:UDR) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,312 shares of the real estate investment trust’s stock after acquiring an additional 14,504 shares during the period. Cibc World Markets Corp’s holdings in UDR were worth $5,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Activest Wealth Management purchased a new stake in shares of UDR during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in UDR during the 3rd quarter valued at $33,000. Continuum Advisory LLC raised its holdings in UDR by 5,335.3% during the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 907 shares during the period. Smartleaf Asset Management LLC raised 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 during the period. Finally, Salem Investment Counselors Inc. raised its holdings in UDR by 62.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 520 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.73% of the company’s stock.

Analyst Upgrades and Downgrades

UDR has been the topic of several recent research reports. Scotiabank increased their price target on UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. 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. Truist Financial lowered UDR from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $46.00 in a report on Monday, March 10th. Mizuho reduced their target price on UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada increased their target price on UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.12.

UDR Price Performance

Shares of UDR stock opened at $43.60 on Thursday. UDR, Inc. has a 1-year low of $35.14 and a 1-year high of $47.55. The stock’s 50-day moving average is $42.64 and its 200 day moving average is $43.79. The company has a market cap of $14.44 billion, a P/E ratio of 174.40, a PEG ratio of 8.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91.

UDR (NYSE:UDR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. Research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a $0.43 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 3.94%. UDR’s dividend payout ratio (DPR) is 688.00%.

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.