Daiwa Securities Group Inc. increased its stake in shares of UDR, Inc. (NYSE:UDR – Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,109,980 shares of the real estate investment trust’s stock after purchasing an additional 159,625 shares during the quarter. UDR makes up about 1.5% of Daiwa Securities Group Inc.’s portfolio, making the stock its 20th largest holding. Daiwa Securities Group Inc. owned about 2.15% of UDR worth $322,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in UDR. Family Firm Inc. acquired a new position in UDR during the second quarter worth $26,000. Activest Wealth Management bought a new stake in shares of UDR in the third quarter valued at approximately $27,000. UMB Bank n.a. purchased a new stake in shares of UDR during the second quarter worth $33,000. Rothschild Investment LLC purchased a new position in UDR during the 2nd quarter valued at about $35,000. Finally, Quest Partners LLC bought a new stake in UDR during the 2nd quarter worth approximately $37,000. 97.84% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
UDR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Evercore ISI increased their price target on shares of UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research note on Monday, September 9th. Piper Sandler raised their price target on UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, August 26th. StockNews.com cut UDR from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, BNP Paribas started coverage on UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.18.
UDR Stock Performance
Shares of NYSE:UDR traded up $0.28 on Friday, reaching $45.09. The company’s stock had a trading volume of 1,536,143 shares, compared to its average volume of 2,277,891. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. The stock’s 50-day moving average is $44.50 and its two-hundred day moving average is $42.32. UDR, Inc. has a 52-week low of $32.85 and a 52-week high of $47.55. The stock has a market capitalization of $14.88 billion, a P/E ratio of 121.86, a PEG ratio of 12.51 and a beta of 0.85.
UDR Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio is currently 459.46%.
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.