Point72 Asset Management L.P. acquired a new stake in UDR, Inc. (NYSE:UDR – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 14,229 shares of the real estate investment trust’s stock, valued at approximately $586,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Research Global Investors bought a new position in shares of UDR in the first quarter worth $176,137,000. Balyasny Asset Management L.P. purchased a new position in UDR during the 4th quarter valued at about $79,897,000. Millennium Management LLC increased its position in shares of UDR by 115.3% during the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock valued at $143,990,000 after buying an additional 1,874,096 shares during the period. Heitman Real Estate Securities LLC purchased a new stake in shares of UDR in the fourth quarter worth about $60,952,000. Finally, Centersquare Investment Management LLC lifted its holdings in shares of UDR by 17.7% in the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.
UDR Stock Down 0.2 %
Shares of NYSE:UDR opened at $44.59 on Friday. The stock has a market capitalization of $14.71 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 9.89 and a beta of 0.85. The stock’s 50-day moving average price is $43.71 and its 200-day moving average price is $40.61. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $47.55.
UDR Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.81%. UDR’s payout ratio is currently 123.19%.
Analyst Ratings Changes
A number of analysts recently weighed in on UDR shares. BNP Paribas started coverage on shares of UDR in a report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 target price on the stock. The Goldman Sachs Group initiated coverage on UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective on the stock. Royal Bank of Canada dropped their price objective on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Truist Financial upped their target price on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.28.
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.
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