Bayesian Capital Management LP Acquires New Position in UDR, Inc. (NYSE:UDR)

Bayesian Capital Management LP acquired a new position in shares of UDR, Inc. (NYSE:UDR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,300 shares of the real estate investment trust’s stock, valued at approximately $881,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in UDR in the fourth quarter worth approximately $1,273,442,000. Capital Research Global Investors grew its position in UDR by 64.1% in the fourth quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust’s stock worth $566,940,000 after acquiring an additional 5,101,668 shares in the last quarter. Invesco Ltd. increased its stake in shares of UDR by 92.0% during the 4th quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust’s stock worth $327,104,000 after purchasing an additional 3,609,925 shares during the last quarter. Northern Trust Corp raised its holdings in shares of UDR by 54.2% during the 4th quarter. Northern Trust Corp now owns 4,853,979 shares of the real estate investment trust’s stock valued at $210,711,000 after purchasing an additional 1,706,037 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of UDR by 10.5% in the 4th quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust’s stock valued at $546,639,000 after purchasing an additional 1,191,432 shares during the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UDR

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total value of $1,068,750.00. Following the transaction, the chief executive officer now directly owns 824,716 shares in the company, valued at $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.39% of the stock is owned by insiders.

UDR Price Performance

Shares of UDR stock opened at $43.05 on Tuesday. UDR, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The firm has a market cap of $14.26 billion, a P/E ratio of 172.20, a price-to-earnings-growth ratio of 8.67 and a beta of 0.84. The firm’s 50-day simple moving average is $42.68 and its 200-day simple moving average is $43.04.

UDR (NYSE:UDR) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The company had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. UDR had a return on equity of 2.65% and a net margin of 5.36%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. As a group, research analysts expect that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. This is an increase from UDR’s previous quarterly dividend of $0.43. UDR’s payout ratio is currently 491.43%.

Wall Street Analyst Weigh In

UDR has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their price objective on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. 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. Barclays decreased their price target on shares of UDR from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Truist Financial lowered UDR from a “buy” rating to a “hold” rating and raised their target price for the company from $45.00 to $46.00 in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, UDR has a consensus rating of “Hold” and a consensus price target of $46.12.

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.