Waterfront Capital Partners LLC Takes Position in UDR, Inc. (NYSE:UDR)

Waterfront Capital Partners LLC purchased a new position in shares of UDR, Inc. (NYSE:UDR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 616,034 shares of the real estate investment trust's stock, valued at approximately $26,742,000. UDR accounts for approximately 4.9% of Waterfront Capital Partners LLC's investment portfolio, making the stock its 4th largest position. Waterfront Capital Partners LLC owned 0.19% of UDR as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in 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 purchasing an additional 491 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of 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 valued at $59,000 after acquiring an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in UDR during the 4th quarter worth about $63,000. Eastern Bank bought a new stake in UDR in the fourth quarter valued at approximately $68,000. Finally, Crews Bank & Trust acquired a new stake in shares of UDR during the fourth quarter worth $76,000. Institutional investors and hedge funds own 97.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on UDR shares. Evercore ISI increased their target price on UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Scotiabank raised their target price on UDR from $48.00 to $49.00 and gave the company a "sector perform" rating in a research report on Friday, February 14th. Truist Financial downgraded shares of UDR from a "buy" rating to a "hold" rating and upped their price objective for the company from $45.00 to $46.00 in a report on Monday, March 10th. Mizuho lowered their price target on shares of UDR from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Barclays cut their target price on shares of UDR from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $46.12.

Insiders Place Their Bets

In related news, CEO Thomas W. Toomey sold 25,000 shares of the business'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 completion of the sale, the chief executive officer now directly owns 824,716 shares in the company, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.39% of the stock is currently owned by insiders.

UDR Stock Up 0.0 %

NYSE UDR traded up $0.02 during mid-day trading on Wednesday, reaching $41.26. The stock had a trading volume of 563,422 shares, compared to its average volume of 2,170,934. The stock has a market cap of $13.66 billion, a PE ratio of 165.04, a price-to-earnings-growth ratio of 8.67 and a beta of 0.78. UDR, Inc. has a 1 year low of $36.61 and a 1 year high of $47.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The company has a fifty day moving average price of $42.72 and a 200 day moving average price of $43.10.

UDR (NYSE:UDR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. On average, research analysts expect that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The business 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 $0.43 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.72 annualized dividend and a yield of 4.17%. This is a boost from UDR's previous quarterly dividend of $0.43. UDR's dividend payout ratio (DPR) is currently 688.00%.

UDR 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.