UDR, Inc. (NYSE:UDR) CEO Sells $3,556,800.00 in Stock

UDR, Inc. (NYSE:UDR) CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

UDR Price Performance

Shares of NYSE UDR opened at $39.83 on Tuesday. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 8.77 and a beta of 0.81. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $44.02. The firm’s 50-day simple moving average is $38.09 and its 200 day simple moving average is $37.13.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Tuesday, April 9th. This is a positive change from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Institutional Investors Weigh In On UDR

Several institutional investors have recently bought and sold shares of UDR. Norges Bank bought a new position in UDR during the 4th quarter valued at $1,065,482,000. Capital Research Global Investors purchased a new stake in shares of UDR in the first quarter valued at about $176,137,000. Centersquare Investment Management LLC lifted its position in shares of UDR by 35.9% during the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after purchasing an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in UDR during the fourth quarter worth about $79,897,000. Finally, Heitman Real Estate Securities LLC bought a new stake in UDR in the 4th quarter worth about $60,952,000. Institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UDR shares. Truist Financial cut their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and upped their target price for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. Morgan Stanley lifted their target price on UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Scotiabank raised their price objective on shares of UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Finally, The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, UDR has a consensus rating of “Hold” and a consensus target price of $40.65.

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.