Crestline Management LP Takes Position in UDR, Inc. (NYSE:UDR)

Crestline Management LP bought a new position in shares of UDR, Inc. (NYSE:UDR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 82,508 shares of the real estate investment trust’s stock, valued at approximately $3,582,000.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position in shares of UDR by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 21,139 shares of the real estate investment trust’s stock valued at $918,000 after acquiring an additional 1,794 shares in the last quarter. Carronade Capital Management LP lifted its holdings in UDR by 5.2% in the 4th quarter. Carronade Capital Management LP now owns 194,852 shares of the real estate investment trust’s stock worth $8,459,000 after purchasing an additional 9,611 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in UDR during the 4th quarter valued at approximately $597,000. Bayesian Capital Management LP bought a new stake in shares of UDR during the fourth quarter valued at approximately $881,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of UDR by 20.4% in the fourth quarter. BNP Paribas Financial Markets now owns 496,585 shares of the real estate investment trust’s stock worth $21,557,000 after buying an additional 84,303 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on UDR shares. Barclays cut their price target on UDR from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Zelman & Associates reiterated a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on shares of UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. Finally, Royal Bank of Canada lifted their target price on UDR from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, UDR presently has an average rating of “Hold” and an average target price of $46.12.

UDR Price Performance

Shares of UDR stock opened at $42.85 on Wednesday. The company has a market cap of $14.19 billion, a P/E ratio of 171.40, a PEG ratio of 8.67 and a beta of 0.84. 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 stock’s 50-day moving average is $42.65 and its 200 day moving average is $43.04. UDR, Inc. has a 1-year low of $36.61 and a 1-year high of $47.55.

UDR (NYSE:UDR) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $419.84 million during the quarter, compared to analyst estimates of $421.23 million. UDR had a net margin of 5.36% and a return on equity of 2.65%. UDR’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. 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 was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.43 per share. This is a positive change from UDR’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, April 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.01%. UDR’s payout ratio is presently 491.43%.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the company’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 transaction, the chief executive officer now owns 824,716 shares in the company, valued at approximately $35,256,609. This represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.39% of the stock is owned by company insiders.

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.