UDR (NYSE:UDR) Shares Up 2%

UDR, Inc. (NYSE:UDRGet Rating)’s stock price shot up 2% during mid-day trading on Friday . The company traded as high as $42.84 and last traded at $42.84. 15,517 shares changed hands during trading, a decline of 99% from the average session volume of 2,105,218 shares. The stock had previously closed at $42.01.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UDR. StockNews.com lowered shares of UDR from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp cut their price target on shares of UDR from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Jefferies Financial Group upgraded shares of UDR from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Friday, July 22nd. Truist Financial cut their price target on shares of UDR from $53.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. Finally, BMO Capital Markets lowered shares of UDR from an “outperform” rating to a “market perform” rating and set a $54.00 target price on the stock. in a research note on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.00.

UDR Price Performance

The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 88.35, a P/E/G ratio of 2.73 and a beta of 0.76. The company has a fifty day moving average price of $46.55 and a two-hundred day moving average price of $49.59. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 1.44.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, October 7th. UDR’s payout ratio is currently 316.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UDR. Norges Bank purchased a new position in UDR in the fourth quarter worth $1,087,564,000. BlackRock Inc. increased its position in shares of UDR by 9.1% in the fourth quarter. BlackRock Inc. now owns 34,773,820 shares of the real estate investment trust’s stock valued at $2,086,082,000 after buying an additional 2,901,453 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 buying an additional 2,353,851 shares in the last quarter. State Street Corp increased its position 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. Finally, JPMorgan Chase & Co. increased its position 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. Hedge funds and other institutional investors own 95.28% of the company’s stock.

About UDR

(Get Rating)

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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