Rhumbline Advisers Boosts Stake in UDR, Inc. (NYSE:UDR)

Rhumbline Advisers raised its holdings in UDR, Inc. (NYSE:UDRGet Rating) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 596,031 shares of the real estate investment trust’s stock after purchasing an additional 60,826 shares during the quarter. Rhumbline Advisers owned 0.18% of UDR worth $27,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UDR. Vanguard Group Inc. raised its position in UDR by 4.9% in the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock valued at $2,904,527,000 after purchasing an additional 2,353,851 shares during the period. State Street Corp grew its stake in shares of UDR by 11.3% in the first quarter. State Street Corp now owns 20,573,811 shares of the real estate investment trust’s stock valued at $1,180,320,000 after buying an additional 2,084,674 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of UDR by 31.6% in the second quarter. JPMorgan Chase & Co. now owns 8,059,929 shares of the real estate investment trust’s stock valued at $371,080,000 after buying an additional 1,933,584 shares in the last quarter. Ranger Global Real Estate Advisors LLC acquired a new stake in shares of UDR in the first quarter valued at $85,232,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of UDR by 473.2% in the first quarter. Qube Research & Technologies Ltd now owns 503,530 shares of the real estate investment trust’s stock valued at $28,888,000 after buying an additional 415,689 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

UDR Trading Down 0.7 %

NYSE:UDR opened at $40.12 on Thursday. The stock has a 50-day simple moving average of $40.11 and a 200-day simple moving average of $44.29. The stock has a market cap of $13.06 billion, a P/E ratio of 81.88, a P/E/G ratio of 2.26 and a beta of 0.72. UDR, Inc. has a 1 year low of $37.18 and a 1 year high of $61.06. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, October 7th. UDR’s payout ratio is currently 310.20%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UDR shares. Piper Sandler dropped their price objective on UDR from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 7th. Mizuho dropped their price objective on UDR from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, November 10th. Barclays lowered their target price on UDR from $56.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. The Goldman Sachs Group lowered their target price on UDR from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, October 18th. Finally, Jefferies Financial Group lowered their target price on UDR from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and an average price target of $50.25.

UDR Company Profile

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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.

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Institutional Ownership by Quarter for UDR (NYSE:UDR)

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