BNP Paribas Financial Markets Has $17.23 Million Position in UDR, Inc. (NYSE:UDR)

BNP Paribas Financial Markets lifted its stake in UDR, Inc. (NYSE:UDR - Free Report) by 28.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,944 shares of the real estate investment trust's stock after buying an additional 100,186 shares during the period. BNP Paribas Financial Markets owned approximately 0.14% of UDR worth $17,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Deutsche Bank AG grew its position in UDR by 35.9% during the 3rd quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust's stock worth $180,722,000 after purchasing an additional 1,339,276 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in UDR in the 3rd quarter valued at $45,428,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of UDR by 79.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust's stock worth $70,087,000 after acquiring an additional 809,273 shares during the period. PGGM Investments boosted its holdings in shares of UDR by 44.9% in the fourth quarter. PGGM Investments now owns 2,324,664 shares of the real estate investment trust's stock valued at $89,011,000 after acquiring an additional 720,423 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of UDR by 232.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 736,386 shares of the real estate investment trust's stock worth $26,267,000 after acquiring an additional 515,180 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the business's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UDR. Piper Sandler upgraded shares of UDR from an "underweight" rating to a "neutral" rating and increased their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of UDR in a report on Tuesday, January 30th. They issued a "hold" rating and a $40.00 target price for the company. Barclays lowered shares of UDR from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. Wedbush raised their price target on shares of UDR from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 6th. Finally, UBS Group raised shares of UDR from a "neutral" rating to a "buy" rating and upped their price target for the company from $38.00 to $44.00 in a report on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $42.06.

UDR Price Performance

UDR stock traded up $0.25 during trading hours on Wednesday, hitting $39.62. 1,523,615 shares of the company traded hands, compared to its average volume of 2,933,864. The firm's 50-day simple moving average is $37.35 and its two-hundred day simple moving average is $36.26. The firm has a market cap of $13.05 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.99 and a beta of 0.79. UDR, Inc. has a 1-year low of $30.95 and a 1-year high of $44.02. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, April 9th. This is an increase from UDR's previous quarterly dividend of $0.42. UDR's payout ratio is currently 123.19%.

About UDR

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.