CIBC Asset Management Inc Purchases 3,110 Shares of UDR, Inc. (NYSE:UDR)

CIBC Asset Management Inc boosted its position in shares of UDR, Inc. (NYSE:UDR) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 44,637 shares of the real estate investment trust’s stock after buying an additional 3,110 shares during the quarter. CIBC Asset Management Inc’s holdings in UDR were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of UDR in the 1st quarter valued at about $213,000. Bessemer Group Inc. raised its stake in UDR by 2,250.3% in the first quarter. Bessemer Group Inc. now owns 37,416 shares of the real estate investment trust’s stock valued at $1,399,000 after buying an additional 35,824 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of UDR by 2.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 550,909 shares of the real estate investment trust’s stock valued at $20,617,000 after buying an additional 10,577 shares during the last quarter. Natixis boosted its stake in shares of UDR by 22.0% during the 1st quarter. Natixis now owns 33,071 shares of the real estate investment trust’s stock worth $1,237,000 after acquiring an additional 5,966 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of UDR during the 1st quarter worth approximately $176,137,000. Institutional investors own 97.84% of the company’s stock.

UDR Stock Performance

Shares of UDR stock opened at $44.50 on Wednesday. The company has a 50 day moving average of $44.63 and a 200-day moving average of $42.18. The company has a market cap of $14.68 billion, a PE ratio of 120.27, a price-to-earnings-growth ratio of 12.30 and a beta of 0.85. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69. UDR, Inc. has a 1-year low of $32.37 and a 1-year high of $47.55.

UDR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.425 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.82%. UDR’s payout ratio is 459.47%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BNP Paribas assumed coverage on shares of UDR in a research report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price objective for the company. Evercore ISI increased their price target on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a report on Monday, September 9th. Wedbush boosted their price objective on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered UDR from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, The Goldman Sachs Group assumed coverage on UDR in a report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.18.

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.